Noble (NYSE:NE) has been assigned a $3.00 price target by Barclays in a research note issued on Wednesday. The brokerage presently has a “sell” rating on the oil and gas company’s stock. Barclays‘s price objective would indicate a potential downside of 9.37% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Noble from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Pareto Securities raised shares of Noble from a “hold” rating to a “buy” rating in a report on Monday, January 28th. Capital One Financial cut shares of Noble from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Zacks Investment Research cut shares of Noble from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Bank of America cut shares of Noble to a “sell” rating in a report on Thursday, December 20th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.87.
Noble stock traded up $0.16 during trading on Wednesday, hitting $3.31. The stock had a trading volume of 7,171,919 shares, compared to its average volume of 3,940,027. Noble has a 1 year low of $2.35 and a 1 year high of $7.44. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.83. The company has a market cap of $787.70 million, a price-to-earnings ratio of -2.90 and a beta of 2.69.
Several institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC increased its position in Noble by 9.6% in the third quarter. Aperio Group LLC now owns 156,697 shares of the oil and gas company’s stock worth $1,102,000 after buying an additional 13,757 shares during the period. Seven Eight Capital LP acquired a new stake in Noble in the third quarter worth $583,000. Fisher Asset Management LLC acquired a new stake in Noble in the third quarter worth $4,850,000. Frontier Capital Management Co. LLC increased its position in Noble by 213.0% in the third quarter. Frontier Capital Management Co. LLC now owns 1,880,583 shares of the oil and gas company’s stock worth $13,220,000 after buying an additional 1,279,673 shares during the period. Finally, Sterling Capital Management LLC acquired a new stake in Noble in the third quarter worth $1,325,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.
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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