Noble (NYSE:NE) has been assigned a $5.00 price target by equities researchers at Susquehanna Bancshares in a report released on Friday, January 12th. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Susquehanna Bancshares’ price objective would indicate a potential downside of 1.96% from the company’s current price.
Several other research analysts also recently commented on the stock. Royal Bank of Canada set a $5.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Thursday, December 21st. ValuEngine downgraded shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $2.85 target price on shares of Noble in a research note on Sunday, October 22nd. Deutsche Bank assumed coverage on shares of Noble in a research note on Tuesday, October 10th. They issued a “hold” rating and a $4.00 target price on the stock. Finally, assumed coverage on shares of Noble in a research note on Thursday, October 19th. They issued a “buy” rating and a $5.30 target price on the stock. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $5.41.
Shares of Noble (NYSE NE) opened at $5.10 on Friday. Noble has a 1 year low of $3.14 and a 1 year high of $7.76. The stock has a market cap of $1,249.33, a P/E ratio of -0.69 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 announced its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). The business had revenue of $266.20 million during the quarter, compared to analyst estimates of $269.61 million. Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. Noble’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.23) earnings per share. equities research analysts anticipate that Noble will post -1.18 EPS for the current year.
A number of institutional investors have recently made changes to their positions in NE. Schwab Charles Investment Management Inc. boosted its stake in Noble by 53.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,674,562 shares of the oil and gas company’s stock worth $6,062,000 after purchasing an additional 583,407 shares in the last quarter. Rhumbline Advisers raised its position in Noble by 12.4% in the 2nd quarter. Rhumbline Advisers now owns 472,610 shares of the oil and gas company’s stock worth $1,711,000 after buying an additional 51,956 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 worth $20,437,000 after buying an additional 145,172 shares during the last quarter. Comerica Bank raised its position in Noble by 24.1% in the 2nd quarter. Comerica Bank now owns 263,655 shares of the oil and gas company’s stock worth $1,047,000 after buying an additional 51,264 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Noble by 89.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,891,150 shares of the oil and gas company’s stock worth $6,846,000 after buying an additional 893,143 shares during the last quarter. Institutional investors own 86.98% of the company’s stock.
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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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