Noble (NYSE:NE) has been given a $5.00 target price by Jefferies Group in a report issued on Friday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Jefferies Group’s price target indicates a potential upside of 14.68% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Royal Bank of Canada set a $5.00 price target on Noble and gave the stock a “hold” rating in a research report on Sunday, November 12th. Susquehanna Bancshares set a $5.00 price target on Noble and gave the stock a “hold” rating in a research report on Friday, February 16th. Cowen set a $5.00 price target on Noble and gave the stock a “hold” rating in a research report on Thursday, January 11th. Barclays set a $4.00 price target on Noble and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research raised Noble from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Eight equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $4.92.
Shares of Noble (NE) opened at $4.36 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.75 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1,040.00, a PE ratio of -2.08 and a beta of 2.22. Noble has a 12-month low of $3.14 and a 12-month high of $7.26.
Noble (NYSE:NE) last released its earnings results on Wednesday, February 21st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The business had revenue of $329.59 million for the quarter, compared to the consensus estimate of $285.67 million. Noble had a negative return on equity of 4.61% and a negative net margin of 41.76%. Noble’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share. research analysts expect that Noble will post -1.53 EPS for the current year.
Several hedge funds have recently modified their holdings of NE. Cubist Systematic Strategies LLC bought a new stake in shares of Noble in the third quarter valued at approximately $102,000. Everence Capital Management Inc. bought a new stake in Noble during the fourth quarter worth $127,000. Investors Research Corp bought a new stake in Noble during the fourth quarter worth $138,000. OxFORD Asset Management LLP bought a new stake in Noble during the third quarter worth $219,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Noble by 26.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 69,700 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 14,590 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.
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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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