Noble (NE) Given a $5.00 Price Target at Jefferies Group

Jefferies Group set a $5.00 price objective on Noble (NYSE:NE) in a report released on Friday. The brokerage currently has a buy rating on the oil and gas company’s stock.

Several other research firms have also recently issued reports on NE. Zacks Investment Research cut Noble from a hold rating to a sell rating in a research report on Tuesday, January 16th. Cowen set a $5.00 price target on Noble and gave the company a hold rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $5.00 price target on Noble and gave the company a hold rating in a report on Friday, January 12th. Piper Jaffray Companies reissued an underweight rating on shares of Noble in a report on Thursday, January 11th. Finally, Barclays set a $4.00 price target on Noble and gave the company a hold rating in a report on Tuesday, January 23rd. Eight analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Noble has a consensus rating of Hold and an average price target of $4.92.

Noble (NYSE:NE) traded up $0.10 during mid-day trading on Friday, reaching $4.36. The company had a trading volume of 4,632,794 shares, compared to its average volume of 8,000,000. The company has a market cap of $1,040.00, a PE ratio of -2.08 and a beta of 2.22. Noble has a fifty-two week low of $3.14 and a fifty-two week high of $7.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.75 and a quick ratio of 1.58.

Noble (NYSE:NE) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.04. The business had revenue of $329.59 million for the quarter, compared to analysts’ expectations of $285.67 million. Noble had a negative return on equity of 4.61% and a negative net margin of 41.76%. The firm’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) EPS. analysts predict that Noble will post -1.53 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Mountain Lake Investment Management LLC increased its stake in shares of Noble by 114.3% in the 4th quarter. Mountain Lake Investment Management LLC now owns 1,350,000 shares of the oil and gas company’s stock worth $6,102,000 after purchasing an additional 720,000 shares in the last quarter. Q Global Advisors LLC increased its stake in shares of Noble by 9,900.0% in the 4th quarter. Q Global Advisors LLC now owns 100,000 shares of the oil and gas company’s stock worth $451,000 after purchasing an additional 99,000 shares in the last quarter. Millennium Management LLC increased its stake in shares of Noble by 1,869.4% in the 4th quarter. Millennium Management LLC now owns 449,044 shares of the oil and gas company’s stock worth $2,030,000 after purchasing an additional 426,243 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Noble by 45.5% in the 4th quarter. Deutsche Bank AG now owns 2,895,081 shares of the oil and gas company’s stock worth $13,082,000 after purchasing an additional 905,521 shares in the last quarter. Finally, AMP Capital Investors Ltd purchased a new stake in shares of Noble in the 4th quarter worth $683,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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About Noble

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.

Analyst Recommendations for Noble (NYSE:NE)

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