Renaissance Technologies LLC increased its holdings in Noble Co. (NYSE:NE) by 141.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,666,800 shares of the oil and gas company’s stock after acquiring an additional 3,906,800 shares during the quarter. Renaissance Technologies LLC owned about 2.72% of Noble worth $30,134,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System raised its holdings in 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 worth $2,046,000 after purchasing an additional 12,067 shares in the last quarter. Rhumbline Advisers raised its holdings in Noble by 3.6% in the third quarter. Rhumbline Advisers now owns 489,841 shares of the oil and gas company’s stock worth $2,253,000 after purchasing an additional 17,231 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Noble by 0.9% in the third quarter. Sterling Capital Management LLC now owns 2,302,948 shares of the oil and gas company’s stock worth $10,594,000 after purchasing an additional 20,981 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Noble in the third quarter worth $102,000. Finally, Ameriprise Financial Inc. raised its holdings in Noble by 2.1% in the third quarter. Ameriprise Financial Inc. now owns 1,343,163 shares of the oil and gas company’s stock worth $6,179,000 after purchasing an additional 27,127 shares in the last quarter. 87.74% of the stock is owned by institutional investors.
NE stock opened at $3.92 on Wednesday. Noble Co. has a twelve month low of $3.14 and a twelve month high of $6.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.75 and a current ratio of 1.75.
Noble (NYSE:NE) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. Noble had a negative return on equity of 4.61% and a negative net margin of 41.76%. The firm had revenue of $329.59 million during the quarter, compared to the consensus estimate of $285.67 million. During the same period last year, the company earned ($0.15) earnings per share. The company’s revenue was down 19.6% on a year-over-year basis. research analysts anticipate that Noble Co. will post -1.8 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Noble from a “hold” rating to a “sell” rating in a report on Tuesday, January 16th. Cowen set a $5.00 price objective on Noble and gave the stock a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $5.00 price objective on Noble and gave the stock a “hold” rating in a report on Friday, January 12th. Piper Jaffray Companies reiterated an “underweight” rating on shares of Noble in a report on Thursday, January 11th. Finally, Barclays set a $4.00 price objective on Noble and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. Noble has an average rating of “Hold” and an average target price of $4.90.
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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