JPMorgan Chase & Co. Sells 708,084 Shares of Noble Co. PLC (NE)

JPMorgan Chase & Co. lowered its stake in Noble Co. PLC (NYSE:NE) by 22.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,468,185 shares of the oil and gas company’s stock after selling 708,084 shares during the period. JPMorgan Chase & Co. owned approximately 1.00% of Noble worth $17,352,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Noble by 2.1% during the 3rd quarter. BlackRock Inc. now owns 38,394,046 shares of the oil and gas company’s stock worth $269,910,000 after purchasing an additional 788,704 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Noble by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 17,001,252 shares of the oil and gas company’s stock worth $119,516,000 after purchasing an additional 361,184 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Noble by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,571,536 shares of the oil and gas company’s stock worth $32,137,000 after purchasing an additional 177,426 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Noble by 213.0% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,880,583 shares of the oil and gas company’s stock worth $13,220,000 after purchasing an additional 1,279,673 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Noble by 23.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 972,371 shares of the oil and gas company’s stock worth $6,836,000 after purchasing an additional 182,000 shares during the last quarter. 86.15% of the stock is owned by institutional investors.

Several equities analysts have commented on the company. ValuEngine raised Noble from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research reaffirmed a “buy” rating and issued a $3.25 price target on shares of Noble in a report on Monday, December 31st. Tudor Pickering raised Noble from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Pareto Securities raised Noble from a “hold” rating to a “buy” rating in a report on Monday, January 28th. Finally, Capital One Financial cut Noble from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $6.01.

Noble stock opened at $2.99 on Tuesday. Noble Co. PLC has a 12 month low of $2.35 and a 12 month high of $7.44. The company has a market capitalization of $762.14 million, a price-to-earnings ratio of -2.62 and a beta of 2.69. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.83.

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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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Institutional Ownership by Quarter for Noble (NYSE:NE)

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