Several other analysts have also commented on NE. ValuEngine lowered shares of Noble from a sell rating to a strong sell rating in a research report on Friday, December 1st. Royal Bank of Canada set a $5.00 price target on shares of Noble and gave the company a hold rating in a research report on Thursday, December 21st. Jefferies Group set a $6.00 price target on shares of Noble and gave the company a buy rating in a research report on Thursday, January 4th. Piper Jaffray Companies reissued an underweight rating on shares of Noble in a research report on Thursday, January 11th. Finally, Susquehanna Bancshares set a $5.00 price target on shares of Noble and gave the company a hold rating in a research report on Friday, January 12th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $4.90.
Noble (NYSE NE) traded up $0.08 during trading hours on Thursday, reaching $4.07. 1,616,684 shares of the company were exchanged, compared to its average volume of 6,971,381. Noble has a 52 week low of $3.14 and a 52 week high of $6.46. The stock has a market capitalization of $1,029.06, a price-to-earnings ratio of -1.90 and a beta of 2.26. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.64.
Several institutional investors have recently made changes to their positions in NE. Schroder Investment Management Group increased its holdings in Noble by 159.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,408,446 shares of the oil and gas company’s stock worth $6,395,000 after buying an additional 864,600 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Noble by 13.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 322,105 shares of the oil and gas company’s stock worth $1,482,000 after acquiring an additional 38,761 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Noble by 23.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 268,117 shares of the oil and gas company’s stock worth $1,233,000 after acquiring an additional 50,085 shares during the period. Contrarius Investment Management Ltd raised its holdings in shares of 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 worth $30,504,000 after acquiring an additional 1,184,494 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Noble during the 3rd quarter worth $268,000. 87.75% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This story was originally published by Week Herald and is owned by of Week Herald. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://weekherald.com/2018/03/16/nobles-ne-hold-rating-reaffirmed-at-cowen.html.
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.
Receive News & Ratings for Noble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble and related companies with MarketBeat.com's FREE daily email newsletter.