Credit Suisse Group set a $6.00 price target on Noble (NYSE:NE) in a research report released on Friday. The firm currently has a hold rating on the oil and gas company’s stock.
Several other research firms have also recently weighed in on NE. Simmons upgraded shares of Noble from an underweight rating to a neutral rating and increased their price objective for the stock from $3.25 to $6.00 in a research report on Monday, October 1st. Piper Jaffray Companies upgraded shares of Noble from an underweight rating to a hold rating and set a $6.00 price target for the company in a report on Monday, October 1st. Susquehanna Bancshares set a $8.00 price target on shares of Noble and gave the stock a hold rating in a report on Wednesday, October 10th. Nordea Equity Research upgraded shares of Noble from a sell rating to a hold rating in a report on Friday, September 28th. Finally, Cowen began coverage on shares of Noble in a report on Saturday, October 13th. They issued a hold rating and a $6.00 price target for the company. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $6.24.
Shares of NE traded down $0.01 during trading hours on Friday, hitting $4.87. 7,614,513 shares of the stock were exchanged, compared to its average volume of 6,421,594. Noble has a fifty-two week low of $3.39 and a fifty-two week high of $7.44. The company has a current ratio of 2.09, a quick ratio of 2.07 and a debt-to-equity ratio of 0.83.
Noble (NYSE:NE) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. Noble had a negative net margin of 79.51% and a negative return on equity of 8.26%. The company had revenue of $279.41 million during the quarter, compared to analysts’ expectations of $263.19 million. During the same period in the prior year, the company posted ($0.36) earnings per share. Noble’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts forecast that Noble will post -1.94 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new position in shares of Noble during the third quarter valued at about $5,551,000. WealthTrust Axiom LLC grew its holdings in shares of Noble by 7.4% during the third quarter. WealthTrust Axiom LLC now owns 151,558 shares of the oil and gas company’s stock valued at $1,065,000 after buying an additional 10,500 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Noble during the third quarter valued at about $1,325,000. Frontier Capital Management Co. LLC grew its holdings in shares of Noble by 213.0% during the third quarter. Frontier Capital Management Co. LLC now owns 1,880,583 shares of the oil and gas company’s stock valued at $13,220,000 after buying an additional 1,279,673 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new position in shares of Noble during the third quarter valued at about $4,850,000. Hedge funds and other institutional investors own 86.43% of the company’s stock.
Noble Company Profile
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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