NE has been the topic of several other research reports. Royal Bank of Canada reissued a hold rating and issued a $7.00 price objective on shares of Noble in a research report on Monday, July 16th. Simmons raised Noble from an underweight rating to a neutral rating and boosted their price objective for the stock from $3.25 to $6.00 in a research report on Monday, October 1st. Jefferies Financial Group lowered Noble from a buy rating to a hold rating and set a $5.00 target price on the stock. in a research note on Thursday, June 21st. Morgan Stanley started coverage on Noble in a research note on Tuesday, September 18th. They issued an underweight rating and a $6.00 target price on the stock. Finally, Credit Suisse Group set a $6.00 target price on Noble and gave the company a hold rating in a research note on Monday, September 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $5.76.
Noble stock traded down $0.01 during mid-day trading on Wednesday, reaching $6.60. The stock had a trading volume of 313,845 shares, compared to its average volume of 5,836,367. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.07 and a current ratio of 2.07. Noble has a fifty-two week low of $3.39 and a fifty-two week high of $7.44. The stock has a market capitalization of $1.73 billion, a PE ratio of -5.99 and a beta of 2.24.
Noble (NYSE:NE) last announced its earnings results on Thursday, August 2nd. The oil and gas company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.02). Noble had a negative net margin of 81.87% and a negative return on equity of 7.44%. The company had revenue of $258.40 million for the quarter, compared to analysts’ expectations of $256.02 million. During the same period in the previous year, the firm earned ($0.32) EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. Research analysts forecast that Noble will post -1.89 EPS for the current year.
A number of hedge funds have recently modified their holdings of NE. Hellman Jordan Management Co. Inc. MA bought a new stake in shares of Noble in the second quarter worth about $694,000. Energy Opportunities Capital Management LLC boosted its position in shares of Noble by 139.1% during the second quarter. Energy Opportunities Capital Management LLC now owns 781,676 shares of the oil and gas company’s stock valued at $4,948,000 after buying an additional 454,710 shares during the period. Castleark Management LLC purchased a new position in shares of Noble during the second quarter valued at approximately $3,384,000. Millennium Management LLC boosted its position in shares of Noble by 263.9% during the second quarter. Millennium Management LLC now owns 1,973,946 shares of the oil and gas company’s stock valued at $12,495,000 after buying an additional 1,431,523 shares during the period. Finally, TVR Capital Management LP purchased a new position in shares of Noble during the second quarter valued at approximately $2,486,000. Institutional investors own 87.63% of the company’s stock.
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.
Further Reading: What is an Initial Public Offering (IPO)?
Receive News & Ratings for Noble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble and related companies with MarketBeat.com's FREE daily email newsletter.