Noble (NE) Given a $5.00 Price Target by Susquehanna Bancshares Analysts

Noble (NYSE:NE) has been given a $5.00 target price by investment analysts at Susquehanna Bancshares in a report issued on Friday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Susquehanna Bancshares’ price objective suggests a potential downside of 13.34% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on NE. Cowen set a $5.00 target price on Noble and gave the stock a “hold” rating in a report on Thursday. Piper Jaffray Companies restated an “underweight” rating on shares of Noble in a report on Thursday. UBS Group upgraded Noble from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.00 to $6.00 in a report on Monday, September 25th. ValuEngine cut Noble from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Finally, Jefferies Group set a $6.00 target price on Noble and gave the stock a “buy” rating in a report on Thursday, January 4th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company’s stock. Noble presently has an average rating of “Hold” and a consensus target price of $5.41.

Noble (NE) opened at $5.77 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.64. Noble has a 1-year low of $3.14 and a 1-year high of $7.76. The stock has a market capitalization of $1,410.00, a PE ratio of -0.79 and a beta of 2.34.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Noble by 37.6% in the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after acquiring an additional 8,843,373 shares in the last quarter. Vanguard Group Inc. lifted its stake in Noble by 16.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after acquiring an additional 3,371,015 shares in the last quarter. State Street Corp lifted its stake in Noble by 31.7% in the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after acquiring an additional 5,405,697 shares in the last quarter. Contrarius Investment Management Ltd lifted its stake in Noble by 21.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock valued at $30,504,000 after acquiring an additional 1,184,494 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Noble by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock valued at $20,437,000 after acquiring an additional 145,172 shares in the last quarter. Hedge funds and other institutional investors own 86.80% of the company’s stock.

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About Noble

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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