Credit Suisse Group Analysts Give Noble (NE) a $6.00 Price Target

Credit Suisse Group set a $6.00 price target on Noble (NYSE:NE) in a research note released on Monday. The brokerage currently has a hold rating on the oil and gas company’s stock.

NE has been the topic of a number of other research reports. Argus raised shares of Noble from a sell rating to a hold rating in a research note on Tuesday, August 14th. Barclays downgraded shares of Noble from an equal weight rating to an underweight rating and increased their price target for the stock from $4.00 to $5.00 in a research note on Thursday, August 9th. Citigroup increased their price target on shares of Noble from $4.70 to $5.90 and gave the stock a neutral rating in a research note on Thursday, June 21st. BTIG Research began coverage on shares of Noble in a research note on Monday, September 17th. They set a neutral rating on the stock. Finally, Jefferies Financial Group downgraded shares of Noble from a buy rating to a hold rating and set a $5.00 price target on the stock. in a research note on Thursday, June 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Noble currently has an average rating of Hold and an average target price of $5.25.

NYSE:NE opened at $7.09 on Monday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -6.22 and a beta of 2.27. Noble has a fifty-two week low of $3.39 and a fifty-two week high of $7.22.

Noble (NYSE:NE) last posted its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.02). The company had revenue of $258.40 million for the quarter, compared to analysts’ expectations of $256.02 million. Noble had a negative return on equity of 7.44% and a negative net margin of 81.87%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) EPS. equities analysts predict that Noble will post -1.89 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of NE. Matarin Capital Management LLC purchased a new position in shares of Noble in the 1st quarter valued at $118,000. Ahrens Investment Partners LLC raised its stake in shares of Noble by 245.1% in the 1st quarter. Ahrens Investment Partners LLC now owns 35,200 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 25,000 shares during the period. Element Capital Management LLC purchased a new position in shares of Noble in the 1st quarter valued at $198,000. GSA Capital Partners LLP raised its stake in shares of Noble by 72.9% in the 1st quarter. GSA Capital Partners LLP now owns 57,743 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 24,349 shares during the period. Finally, HAP Trading LLC raised its stake in shares of Noble by 318.8% in the 1st quarter. HAP Trading LLC now owns 60,732 shares of the oil and gas company’s stock valued at $225,000 after acquiring an additional 46,232 shares during the period. 87.63% of the stock is currently owned by institutional investors and hedge funds.

About Noble

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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