Kovitz Investment Group Partners LLC cut its stake in Noble Co. (NYSE:NE) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,469 shares of the oil and gas company’s stock after selling 30,803 shares during the period. Kovitz Investment Group Partners LLC owned about 0.05% of Noble worth $563,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NE. Schroder Investment Management Group increased its stake in shares of Noble by 159.0% during the third quarter. Schroder Investment Management Group now owns 1,408,446 shares of the oil and gas company’s stock worth $6,395,000 after acquiring an additional 864,600 shares during the period. Russell Investments Group Ltd. grew its position in Noble by 13.7% during the third quarter. Russell Investments Group Ltd. now owns 322,105 shares of the oil and gas company’s stock worth $1,482,000 after buying an additional 38,761 shares during the period. BNP Paribas Arbitrage SA grew its position in Noble by 23.0% during the third quarter. BNP Paribas Arbitrage SA now owns 268,117 shares of the oil and gas company’s stock worth $1,233,000 after buying an additional 50,085 shares during the period. Contrarius Investment Management Ltd grew its position in Noble by 21.7% during the third quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock worth $30,504,000 after buying an additional 1,184,494 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in Noble by 4.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,145,793 shares of the oil and gas company’s stock worth $9,699,000 after buying an additional 87,296 shares during the period. 87.74% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Noble from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. Cowen set a $5.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Thursday, January 11th. Susquehanna Bancshares set a $5.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Friday, January 12th. Piper Jaffray reaffirmed an “underweight” rating on shares of Noble in a research note on Thursday, January 11th. Finally, Barclays set a $4.00 price objective on shares of Noble and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.74.
Noble stock traded down $0.14 during trading hours on Friday, hitting $3.71. 4,281,196 shares of the company traded hands, compared to its average volume of 5,149,221. The stock has a market cap of $950.09, a price-to-earnings ratio of -3.25 and a beta of 2.20. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.64. Noble Co. has a 1-year low of $3.14 and a 1-year high of $6.36.
Noble (NYSE:NE) last released its earnings results on Wednesday, February 21st. The oil and gas company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. The firm had revenue of $329.59 million for the quarter, compared to analysts’ expectations of $285.67 million. Noble had a negative net margin of 41.76% and a negative return on equity of 4.61%. Noble’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.15) EPS. research analysts expect that Noble Co. will post -1.82 earnings per share for the current fiscal year.
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Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.
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