California Public Employees Retirement System increased its stake in shares of Noble Co. (NYSE:NE) by 62.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,385,742 shares of the oil and gas company’s stock after acquiring an additional 914,823 shares during the quarter. California Public Employees Retirement System owned about 0.97% of Noble worth $10,974,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of NE. Cubist Systematic Strategies LLC bought a new position in shares of Noble during the third quarter worth $102,000. Pinebridge Investments L.P. bought a new position in Noble during the second quarter valued at $117,000. BlueCrest Capital Management Ltd lifted its position in Noble by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 27,365 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Noble during the third quarter valued at $161,000. Finally, ProShare Advisors LLC lifted its position in Noble by 9.1% during the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 4,047 shares during the last quarter. Hedge funds and other institutional investors own 86.80% of the company’s stock.
Several equities analysts have commented on NE shares. UBS Group upgraded shares of Noble from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.00 to $6.00 in a research report on Monday, September 25th. Jefferies Group set a $6.00 price objective on shares of Noble and gave the company a “buy” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Wednesday, October 18th. started coverage on shares of Noble in a research report on Thursday, October 19th. They set a “buy” rating and a $5.30 price objective for the company. Finally, Cowen set a $3.00 price objective on shares of Noble and gave the company a “hold” rating in a research report on Wednesday, October 18th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $5.33.
Noble Co. (NYSE NE) opened at $5.62 on Friday. The company has a market cap of $1,300.00, a PE ratio of -0.77 and a beta of 2.34. Noble Co. has a 12 month low of $3.14 and a 12 month high of $7.80. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64.
Noble (NYSE:NE) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.36). The company had revenue of $266.20 million for the quarter, compared to the consensus estimate of $269.61 million. Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm’s revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.23) EPS. analysts forecast that Noble Co. will post -1.18 earnings per share for the current fiscal year.
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Noble 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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