Investors Buy Large Volume of Put Options on Noble (NE)

Noble Co. (NYSE:NE) was the target of some unusual options trading activity on Thursday. Investors acquired 14,131 put options on the company. This is an increase of approximately 1,669% compared to the average daily volume of 799 put options.

Noble stock opened at $5.98 on Friday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.40 billion, a PE ratio of -5.25 and a beta of 2.16. Noble has a 12-month low of $3.14 and a 12-month high of $6.10.

Noble (NYSE:NE) last posted its quarterly earnings data on Wednesday, May 2nd. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.02. The business had revenue of $235.16 million during the quarter, compared to analysts’ expectations of $228.45 million. Noble had a negative net margin of 32.20% and a negative return on equity of 6.29%. The business’s revenue was down 35.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. sell-side analysts anticipate that Noble will post -1.83 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of NE. California State Teachers Retirement System boosted its holdings in shares of Noble by 2.8% in the third quarter. California State Teachers Retirement System now owns 444,840 shares of the oil and gas company’s stock valued at $2,046,000 after acquiring an additional 12,067 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Noble by 4.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,145,793 shares of the oil and gas company’s stock valued at $9,699,000 after acquiring an additional 87,296 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Noble by 28.1% in the fourth quarter. SG Americas Securities LLC now owns 216,594 shares of the oil and gas company’s stock valued at $979,000 after acquiring an additional 47,462 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Noble in the fourth quarter valued at approximately $352,000. Finally, Aperio Group LLC boosted its holdings in shares of Noble by 25.2% in the fourth quarter. Aperio Group LLC now owns 156,426 shares of the oil and gas company’s stock valued at $707,000 after acquiring an additional 31,521 shares in the last quarter. Institutional investors and hedge funds own 86.82% of the company’s stock.

NE has been the subject of several recent analyst reports. ValuEngine upgraded shares of Noble from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research cut shares of Noble from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Cowen restated a “hold” rating and issued a $4.00 target price on shares of Noble in a research report on Thursday, March 15th. Argus upgraded shares of Noble from a “hold” rating to a “buy” rating in a research report on Tuesday, March 13th. Finally, Piper Jaffray set a $3.00 target price on shares of Noble and gave the stock a “sell” rating in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $4.33.

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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