Noble (NYSE:NE) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday, February 2nd.
Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Wednesday, October 18th. began coverage on shares of Noble in a research report on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Jefferies Group set a $6.00 price target on Noble and gave the stock a “buy” rating in a report on Thursday, January 4th. Royal Bank of Canada set a $5.00 price target on Noble and gave the stock a “hold” rating in a report on Thursday, December 21st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $2.85 price target on shares of Noble in a report on Sunday, October 22nd. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $5.16.
Shares of Noble (NYSE NE) traded up $0.02 during trading on Friday, reaching $3.98. 1,749,970 shares of the company’s stock traded hands, compared to its average volume of 8,512,350. The stock has a market capitalization of $970.07, a price-to-earnings ratio of -0.54 and a beta of 2.22. Noble has a one year low of $3.14 and a one year high of $7.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.
Several large investors have recently modified their holdings of NE. BlackRock Inc. grew its holdings in shares of Noble by 37.6% during the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock worth $117,253,000 after purchasing an additional 8,843,373 shares during the period. State Street Corp lifted its position 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 worth $81,248,000 after acquiring an additional 5,405,697 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $85,155,000 after acquiring an additional 3,371,015 shares in the last quarter. SG Capital Management LLC acquired a new position in Noble during the 3rd quarter worth approximately $9,696,000. Finally, Contrarius Investment Management Ltd lifted its position 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 worth $30,504,000 after acquiring an additional 1,184,494 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.
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.
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