Noble Corporation (NE) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its position in Noble Corporation (NYSE:NE) by 53.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,674,562 shares of the oil and gas company’s stock after buying an additional 583,407 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.68% of Noble Corporation worth $6,062,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Noble Corporation by 0.9% during the first quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock valued at $124,744,000 after acquiring an additional 188,754 shares during the last quarter. UBS Group AG boosted its stake in shares of Noble Corporation by 3.1% during the first quarter. UBS Group AG now owns 225,672 shares of the oil and gas company’s stock valued at $1,397,000 after acquiring an additional 6,767 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Noble Corporation by 57.3% during the first quarter. Dimensional Fund Advisors LP now owns 20,624,594 shares of the oil and gas company’s stock valued at $127,666,000 after acquiring an additional 7,514,153 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Noble Corporation by 1.8% during the first quarter. Mason Street Advisors LLC now owns 115,589 shares of the oil and gas company’s stock valued at $715,000 after acquiring an additional 2,067 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in shares of Noble Corporation by 326.2% during the first quarter. Credit Suisse AG now owns 915,197 shares of the oil and gas company’s stock valued at $5,666,000 after acquiring an additional 700,438 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

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Noble Corporation (NYSE NE) opened at 3.89 on Wednesday. The firm’s market capitalization is $952.67 million. Noble Corporation has a 1-year low of $3.14 and a 1-year high of $8.37. The stock has a 50 day moving average price of $3.88 and a 200 day moving average price of $4.25.

Noble Corporation (NYSE:NE) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.02. The company had revenue of $278.10 million during the quarter, compared to the consensus estimate of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The firm’s revenue was down 68.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. Analysts predict that Noble Corporation will post ($1.24) EPS for the current year.

NE has been the topic of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.50 price objective (down previously from $7.00) on shares of Noble Corporation in a research note on Tuesday, July 18th. Citigroup Inc. lowered Noble Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $4.70 in a research note on Friday, June 16th. Sanford C. Bernstein lowered Noble Corporation from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $7.00 to $2.50 in a research note on Thursday, July 6th. Bank of America Corporation lowered Noble Corporation from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $7.00 to $2.00 in a research note on Friday, June 30th. Finally, ValuEngine raised Noble Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $5.67.

About Noble Corporation

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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Institutional Ownership by Quarter for Noble Corporation (NYSE:NE)

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