Noble Co. (NE) Given Consensus Rating of “Hold” by Brokerages

Noble Co. (NYSE:NE) has been given a consensus rating of “Hold” by the thirty research firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.64.

Several research analysts recently issued reports on NE shares. Zacks Investment Research lowered Noble from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $2.85 target price on shares of Noble in a research report on Sunday, October 22nd. ValuEngine lowered Noble from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. started coverage on Noble in a research report on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Finally, UBS Group raised Noble from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.00 to $6.00 in a research report on Monday, September 25th.

Shares of Noble (NYSE:NE) traded up $0.15 during mid-day trading on Friday, hitting $5.05. The company’s stock had a trading volume of 9,605,000 shares, compared to its average volume of 9,138,400. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1,240.00, a PE ratio of -0.69 and a beta of 2.34. Noble has a twelve month low of $3.14 and a twelve month high of $7.80.

Noble (NYSE:NE) last issued its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.36). The firm had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $269.61 million. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) EPS. analysts forecast that Noble will post -1.18 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in Noble during the third quarter worth approximately $102,000. Pinebridge Investments L.P. purchased a new position in Noble during the second quarter worth approximately $117,000. BlueCrest Capital Management Ltd boosted its position in Noble by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 27,365 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in Noble during the third quarter worth approximately $161,000. Finally, ProShare Advisors LLC boosted its position in Noble by 9.1% during the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock worth $176,000 after purchasing an additional 4,047 shares in the last quarter. 86.80% of the stock is currently owned by hedge funds and other institutional investors.

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Noble Company Profile

Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.

Analyst Recommendations for Noble (NYSE:NE)

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