Noble (NYSE:NE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Noble (NYSE:NE) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $33.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 8.30% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Noble Financial cut Noble to a “market perform” rating in a research report on Monday, December 1st. Susquehanna lifted their price target on shares of Noble from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Fearnley Fonds cut Noble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Noble in a research report on Monday, December 29th. Finally, Zacks Research upgraded Noble from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.63.

Noble Stock Up 1.0%

Shares of Noble stock traded up $0.45 on Tuesday, hitting $44.71. The stock had a trading volume of 639,609 shares, compared to its average volume of 2,321,360. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 1.67. The company has a market capitalization of $7.12 billion, a P/E ratio of 33.09 and a beta of 1.12. Noble has a 52-week low of $17.40 and a 52-week high of $46.31.

Noble (NYSE:NE) last announced its earnings results on Wednesday, February 11th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.06). The business had revenue of $764.41 million for the quarter. Noble had a return on equity of 2.34% and a net margin of 6.60%.The business’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. Equities research analysts expect that Noble will post 2.99 earnings per share for the current year.

Insider Buying and Selling at Noble

In other news, SVP Joey M. Kawaja sold 19,725 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $43.51, for a total value of $858,234.75. Following the transaction, the senior vice president directly owned 80,074 shares in the company, valued at $3,484,019.74. This trade represents a 19.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Blake Denton sold 23,255 shares of Noble stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.50, for a total transaction of $1,011,592.50. Following the transaction, the senior vice president directly owned 79,261 shares in the company, valued at approximately $3,447,853.50. This trade represents a 22.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,722 shares of company stock worth $2,459,090. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Noble

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hosking Partners LLP grew its holdings in Noble by 10.0% during the 4th quarter. Hosking Partners LLP now owns 1,140,328 shares of the company’s stock valued at $32,203,000 after purchasing an additional 103,477 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Noble by 2.8% in the fourth quarter. Russell Investments Group Ltd. now owns 911,491 shares of the company’s stock worth $25,740,000 after buying an additional 24,725 shares during the last quarter. Systematic Financial Management LP raised its holdings in Noble by 0.8% in the second quarter. Systematic Financial Management LP now owns 540,535 shares of the company’s stock valued at $14,351,000 after acquiring an additional 4,435 shares in the last quarter. SG Americas Securities LLC raised its holdings in Noble by 424.2% in the fourth quarter. SG Americas Securities LLC now owns 440,342 shares of the company’s stock valued at $12,435,000 after acquiring an additional 356,333 shares in the last quarter. Finally, Hara Capital LLC boosted its stake in Noble by 4.9% during the 2nd quarter. Hara Capital LLC now owns 194,482 shares of the company’s stock valued at $5,163,000 after acquiring an additional 9,116 shares during the last quarter. 68.14% of the stock is owned by institutional investors and hedge funds.

About Noble

Noble Corp. Plc engages in the provision offshore drilling services for oil and gas industry. It focuses on a balanced fleet of floating and jackup rigs and the deployment of drilling rigs in oil and gas basins around the world. The company was founded by Lloyd Noble and Art Olson in 1921 and is headquartered in London, the United Kingdom.