Noble Co. (NE) Receives $4.30 Average PT from Brokerages

Shares of Noble Co. (NYSE:NE) have been assigned an average recommendation of “Hold” from the twenty brokerages that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $4.30.

A number of analysts have commented on NE shares. Zacks Investment Research downgraded shares of Noble from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. ValuEngine upgraded shares of Noble from a “hold” rating to a “buy” rating in a report on Wednesday. Seaport Global Securities set a $4.00 target price on shares of Noble and gave the stock a “hold” rating in a report on Monday, February 26th. Piper Jaffray set a $3.00 target price on shares of Noble and gave the stock a “sell” rating in a report on Monday, February 26th. Finally, Barclays set a $4.00 target price on shares of Noble and gave the stock a “hold” rating in a report on Tuesday, January 23rd.

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in Noble by 28.1% during the third quarter. Wells Fargo & Company MN now owns 515,270 shares of the oil and gas company’s stock valued at $2,370,000 after purchasing an additional 113,004 shares in the last quarter. California State Teachers Retirement System grew its position in Noble by 2.8% during 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 purchasing an additional 12,067 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Noble during the third quarter valued at approximately $102,000. Schwab Charles Investment Management Inc. grew its position in Noble by 4.2% during 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 purchasing an additional 87,296 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Noble by 28.1% during 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 purchasing an additional 47,462 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Shares of NE stock traded down $0.10 during midday trading on Thursday, reaching $5.20. 4,560,481 shares of the company were exchanged, compared to its average volume of 6,584,352. Noble has a 12 month low of $3.14 and a 12 month high of $5.80. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -4.56 and a beta of 2.16. The company has a current ratio of 2.45, a quick ratio of 1.75 and a debt-to-equity ratio of 0.68.

Noble (NYSE:NE) last released its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.02. Noble had a negative net margin of 32.20% and a negative return on equity of 6.29%. The company had revenue of $235.16 million for the quarter, compared to the consensus estimate of $228.45 million. During the same period in the previous year, the firm earned ($0.17) EPS. Noble’s revenue was down 35.2% on a year-over-year basis. equities research analysts predict that Noble will post -1.84 earnings per share for the current year.

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.

Analyst Recommendations for Noble (NYSE:NE)

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