CoreCommodity Management LLC lessened its holdings in shares of Noble Co. PLC (NYSE:NE) by 46.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 55,076 shares of the oil and gas company’s stock after selling 47,312 shares during the quarter. CoreCommodity Management LLC’s holdings in Noble were worth $144,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. LPL Financial LLC grew its holdings in shares of Noble by 16.9% during the 4th quarter. LPL Financial LLC now owns 25,178 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 3,649 shares during the period. Texas Permanent School Fund grew its holdings in shares of Noble by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 161,499 shares of the oil and gas company’s stock worth $423,000 after acquiring an additional 6,222 shares during the period. United Services Automobile Association grew its holdings in shares of Noble by 12.4% during the 4th quarter. United Services Automobile Association now owns 59,136 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 6,540 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Noble by 39.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 26,136 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 7,370 shares during the period. Finally, Teachers Advisors LLC grew its holdings in shares of Noble by 1.8% during the 3rd quarter. Teachers Advisors LLC now owns 501,632 shares of the oil and gas company’s stock worth $3,526,000 after acquiring an additional 8,793 shares during the period. Institutional investors own 87.59% of the company’s stock.

Shares of NE opened at $2.89 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.83. Noble Co. PLC has a 52 week low of $2.35 and a 52 week high of $7.44. The company has a market capitalization of $718.76 million, a PE ratio of -1.57 and a beta of 2.68.

Noble (NYSE:NE) last issued its quarterly earnings results on Wednesday, February 20th. The oil and gas company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.05. Noble had a negative return on equity of 9.16% and a negative net margin of 81.74%. The firm had revenue of $309.90 million for the quarter, compared to analysts’ expectations of $289.04 million. During the same period in the previous year, the firm posted ($0.29) EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts forecast that Noble Co. PLC will post -1.68 earnings per share for the current fiscal year.

A number of research firms have weighed in on NE. Barclays set a $3.00 target price on Noble and gave the stock a “sell” rating in a report on Wednesday, February 20th. Zacks Investment Research downgraded Noble from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Bank of America downgraded Noble to a “sell” rating in a report on Thursday, December 20th. Argus downgraded Noble from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Finally, Societe Generale downgraded Noble from a “buy” rating to a “hold” rating in a report on Wednesday, December 19th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. Noble currently has a consensus rating of “Hold” and an average target price of $5.58.

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About Noble

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

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Institutional Ownership by Quarter for Noble (NYSE:NE)

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