Allianz Asset Management GmbH Invests $4 Million in Noble Co. (NE)

Allianz Asset Management GmbH bought a new position in Noble Co. (NYSE:NE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 869,790 shares of the oil and gas company’s stock, valued at approximately $4,001,000. Allianz Asset Management GmbH owned 0.36% of Noble at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pinebridge Investments L.P. bought a new position in Noble during the 2nd quarter valued at about $117,000. BlueCrest Capital Management Ltd lifted its stake in Noble by 179.0% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after acquiring an additional 27,365 shares during the period. Sanders Morris Harris LLC bought a new position in Noble during the 3rd quarter valued at about $161,000. ProShare Advisors LLC lifted its stake in Noble by 9.1% during the 2nd quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock valued at $176,000 after acquiring an additional 4,047 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in Noble during the 2nd quarter valued at about $192,000. Institutional investors own 86.80% of the company’s stock.

Several equities research analysts have recently commented on NE shares. UBS Group raised shares of Noble from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.00 to $6.00 in a research report on Monday, September 25th. Royal Bank of Canada set a $5.00 price target on shares of Noble and gave the company a “hold” rating in a research report on Saturday, October 7th. Deutsche Bank began coverage on shares of Noble in a report on Tuesday, October 10th. They issued a “hold” rating and a $4.00 target price for the company. Zacks Investment Research raised shares of Noble from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Wednesday, October 18th. Finally, started coverage on shares of Noble in a report on Thursday, October 19th. They issued a “buy” rating and a $5.30 target price for the company. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. Noble currently has a consensus rating of “Hold” and a consensus price target of $5.41.

Noble Co. (NYSE:NE) traded up $0.15 during trading hours on Friday, hitting $5.77. The stock had a trading volume of 10,660,000 shares, compared to its average volume of 7,870,000. Noble Co. has a fifty-two week low of $3.14 and a fifty-two week high of $7.80. The company has a market capitalization of $1,380.00, a P/E ratio of -0.79 and a beta of 2.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58.

Noble (NYSE:NE) last released its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting the consensus estimate of ($0.36). The business had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period last year, the company earned ($0.23) earnings per share. analysts forecast that Noble Co. will post -1.18 EPS for the current fiscal year.

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Noble 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.

Institutional Ownership by Quarter for Noble (NYSE:NE)

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