Noble (NYSE:NE)‘s stock had its “hold” rating reissued by Cowen in a report issued on Thursday, March 15th. They currently have a $4.00 price target on the oil and gas company’s stock. Cowen’s price objective would suggest a potential upside of 7.82% from the company’s current price.
A number of other analysts also recently issued reports on NE. Susquehanna Bancshares set a $5.00 price objective on shares of Noble and gave the stock a “hold” rating in a report on Friday, February 16th. Seaport Global Securities set a $4.00 price objective on shares of Noble and gave the stock a “hold” rating in a report on Monday, February 26th. Piper Jaffray set a $3.00 price objective on shares of Noble and gave the stock a “sell” rating in a report on Monday, February 26th. Barclays set a $4.00 price objective on shares of Noble and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Finally, Jefferies Group set a $5.00 price target on shares of Noble and gave the stock a “buy” rating in a research note on Friday, February 23rd. Six equities research analysts have rated the stock with a sell rating, eleven 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 an average target price of $4.74.
Shares of NE traded down $0.14 during mid-day trading on Thursday, reaching $3.71. 4,281,196 shares of the stock traded hands, compared to its average volume of 5,149,221. Noble has a 1 year low of $3.14 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $915.54, a P/E ratio of -3.25 and a beta of 2.20.
Noble (NYSE:NE) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. Noble had a negative net margin of 41.76% and a negative return on equity of 4.61%. The company had revenue of $329.59 million during the quarter, compared to the consensus estimate of $285.67 million. During the same period in the previous year, the firm posted ($0.15) EPS. The firm’s revenue was down 19.6% compared to the same quarter last year. analysts expect that Noble will post -1.82 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in shares of Noble during the third quarter valued at about $102,000. Everence Capital Management Inc. purchased a new position in shares of Noble during the fourth quarter valued at about $127,000. Investors Research Corp purchased a new position in shares of Noble during the fourth quarter valued at about $138,000. OxFORD Asset Management LLP purchased a new position in shares of Noble during the third quarter valued at about $219,000. Finally, LMR Partners LLP purchased a new position in shares of Noble during the third quarter valued at about $268,000. 87.74% of the stock is owned by hedge funds and other institutional investors.
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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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