Noble (NYSE:NE) has been given a $6.00 price target by stock analysts at Piper Jaffray Companies in a research report issued on Tuesday. The firm presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 20.24% from the stock’s current price.
Several other equities research analysts have also commented on NE. Tudor Pickering upgraded shares of Noble from a “hold” rating to a “buy” rating in a research report on Friday. Seaport Global Securities set a $5.00 target price on shares of Noble and gave the stock a “hold” rating in a research report on Monday, August 6th. Simmons upgraded shares of Noble from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $3.25 to $6.00 in a research report on Monday, October 1st. Cowen began coverage on shares of Noble in a research report on Saturday, October 13th. They set a “hold” rating and a $6.00 target price on the stock. Finally, Morgan Stanley began coverage on shares of Noble in a research report on Tuesday, September 18th. They set an “underweight” rating and a $6.00 target price on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Noble currently has an average rating of “Hold” and an average price target of $6.24.
Shares of NE opened at $4.99 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.07 and a current ratio of 2.09. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -4.38 and a beta of 2.45. Noble has a 1 year low of $3.39 and a 1 year high of $7.44.
Noble (NYSE:NE) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.02. The company had revenue of $279.41 million for the quarter, compared to analysts’ expectations of $263.19 million. Noble had a negative net margin of 79.51% and a negative return on equity of 8.26%. Noble’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) EPS. As a group, equities research analysts expect that Noble will post -1.94 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Hellman Jordan Management Co. Inc. MA purchased a new stake in shares of Noble in the 2nd quarter worth about $694,000. Bank of America Corp DE raised its stake in Noble by 15.0% in the 2nd quarter. Bank of America Corp DE now owns 2,080,782 shares of the oil and gas company’s stock valued at $13,171,000 after purchasing an additional 270,920 shares during the last quarter. TVR Capital Management LP acquired a new position in Noble in the 2nd quarter valued at about $2,486,000. Millennium Management LLC raised its stake in Noble by 263.9% in the 2nd quarter. Millennium Management LLC now owns 1,973,946 shares of the oil and gas company’s stock valued at $12,495,000 after purchasing an additional 1,431,523 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Noble by 213.5% in the 1st quarter. Russell Investments Group Ltd. now owns 285,315 shares of the oil and gas company’s stock valued at $1,059,000 after purchasing an additional 194,299 shares during the last quarter. Institutional investors and hedge funds own 85.88% 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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