BlackRock Inc. lifted its stake in Noble Corporation (NYSE:NE) by 37.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,390,455 shares of the oil and gas company’s stock after purchasing an additional 8,843,373 shares during the quarter. BlackRock Inc. owned about 13.24% of Noble Corporation worth $117,253,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of NE. Teacher Retirement System of Texas increased its stake in Noble Corporation by 16.8% during the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 2,816 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Noble Corporation during the first quarter worth $139,000. Founders Capital Management increased its stake in Noble Corporation by 95.9% during the second quarter. Founders Capital Management now owns 30,270 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 14,820 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Noble Corporation by 126.1% during the first quarter. Tudor Investment Corp ET AL now owns 30,300 shares of the oil and gas company’s stock worth $188,000 after acquiring an additional 16,900 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in Noble Corporation by 3.6% during the first quarter. Advantus Capital Management Inc now owns 31,328 shares of the oil and gas company’s stock worth $194,000 after acquiring an additional 1,098 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.
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Noble Corporation (NYSE NE) opened at 3.96 on Friday. Noble Corporation has a 12 month low of $3.14 and a 12 month high of $8.37. The company has a 50-day moving average price of $4.04 and a 200 day moving average price of $4.09. The firm’s market cap is $969.82 million.
Noble Corporation (NYSE:NE) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.02. The business had revenue of $278.10 million during the quarter, compared to the consensus estimate of $284.99 million. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. Noble Corporation’s revenue for the quarter was down 68.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. Equities research analysts anticipate that Noble Corporation will post ($1.23) EPS for the current year.
Several research analysts have recently commented on NE shares. Cowen and Company restated a “hold” rating and set a $3.00 price target on shares of Noble Corporation in a research report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) upgraded Noble Corporation to a “sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada upgraded Noble Corporation from an “underperform” rating to a “sector perform” rating and set a $5.00 price target for the company in a research report on Friday, August 25th. Deutsche Bank AG started coverage on Noble Corporation in a research report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price target for the company. Finally, Sanford C. Bernstein lowered Noble Corporation from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $7.00 to $2.50 in a research report on Thursday, July 6th. Seven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company’s stock. Noble Corporation has a consensus rating of “Hold” and an average target price of $5.56.
About Noble Corporation
Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.
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