Cowen and Company set a $3.00 target price on Noble Corporation (NYSE:NE) in a report issued on Wednesday, October 18th. The firm currently has a hold rating on the oil and gas company’s stock.
A number of other equities research analysts have also issued reports on the stock. Jefferies Group LLC reaffirmed a buy rating and set a $5.50 target price (down previously from $7.00) on shares of Noble Corporation in a report on Tuesday, July 18th. Bank of America Corporation lowered shares of Noble Corporation from a neutral rating to an underperform rating and dropped their price objective for the company from $7.00 to $2.00 in a report on Friday, June 30th. Sanford C. Bernstein lowered shares of Noble Corporation from a market perform rating to an underperform rating and dropped their price objective for the company from $7.00 to $2.50 in a report on Thursday, July 6th. ValuEngine raised shares of Noble Corporation from a strong sell rating to a sell rating in a report on Friday, September 1st. Finally, Royal Bank Of Canada reissued a sell rating and issued a $5.00 price objective on shares of Noble Corporation in a report on Thursday, July 20th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $5.56.
Noble Corporation (NYSE NE) traded up 0.76% on Wednesday, hitting $3.99. 6,444,131 shares of the stock were exchanged. The company has a 50-day moving average of $4.06 and a 200 day moving average of $4.07. Noble Corporation has a 12 month low of $3.14 and a 12 month high of $8.37. The firm’s market cap is $977.16 million.
Noble Corporation (NYSE:NE) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The business had revenue of $278.10 million during the quarter, compared to analyst estimates of $284.99 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was down 68.9% compared to the same quarter last year. Equities research analysts expect that Noble Corporation will post ($1.23) earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its holdings in Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 2,816 shares in the last quarter. HighTower Advisors LLC purchased a new position in Noble Corporation in the first quarter valued at approximately $139,000. Founders Capital Management increased its stake in Noble Corporation by 95.9% in the second quarter. Founders Capital Management now owns 30,270 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 14,820 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Noble Corporation by 126.1% in the first quarter. Tudor Investment Corp ET AL now owns 30,300 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 16,900 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in Noble Corporation by 3.6% in the first quarter. Advantus Capital Management Inc now owns 31,328 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 1,098 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
Noble Corporation Company Profile
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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