Engineers Gate Manager LP Acquires New Holdings in Noble Co. (NE)

Engineers Gate Manager LP acquired a new position in Noble Co. (NYSE:NE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 77,783 shares of the oil and gas company’s stock, valued at approximately $352,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Noble by 37.6% during the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after buying an additional 8,843,373 shares during the period. Vanguard Group Inc. increased its stake in Noble by 16.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after buying an additional 3,371,015 shares during the period. State Street Corp increased its stake in Noble by 31.7% during the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after buying an additional 5,405,697 shares during the period. Contrarius Investment Management Ltd increased its stake in Noble by 21.7% during the 3rd quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock valued at $30,504,000 after buying an additional 1,184,494 shares during the period. Finally, Northern Trust Corp increased its stake in Noble by 33.8% during the 2nd quarter. Northern Trust Corp now owns 3,337,639 shares of the oil and gas company’s stock valued at $12,082,000 after buying an additional 843,007 shares during the period. 85.57% of the stock is currently owned by institutional investors and hedge funds.

Noble Co. (NYSE:NE) opened at $3.95 on Thursday. Noble Co. has a 12-month low of $3.14 and a 12-month high of $7.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $960.27, a PE ratio of -0.54 and a beta of 2.22.

Several research firms have commented on NE. Zacks Investment Research raised shares of Noble from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. began coverage on shares of Noble in a research note on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Piper Jaffray Companies reissued an “underweight” rating on shares of Noble in a research note on Thursday, January 11th. Jefferies Group set a $6.00 target price on shares of Noble and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, Susquehanna Bancshares set a $5.00 price objective on shares of Noble and gave the company a “hold” rating in a research report on Friday, January 12th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $4.97.

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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.

Institutional Ownership by Quarter for Noble (NYSE:NE)

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