Stock analysts at Deutsche Bank AG started coverage on shares of Noble Corporation (NYSE:NE) in a report released on Tuesday. The firm set a “hold” rating and a $4.00 price target on the oil and gas company’s stock. Deutsche Bank AG’s target price suggests a potential upside of 4.44% from the stock’s current price.
NE has been the subject of a number of other reports. Cowen and Company reaffirmed a “hold” rating and issued a $3.00 price target on shares of Noble Corporation in a research note on Tuesday, September 5th. Seaport Global Securities cut Noble Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $3.50 in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded Noble Corporation to a “sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada upgraded Noble Corporation from an “underperform” rating to a “sector perform” rating and set a $5.00 price objective for the company in a research report on Friday, August 25th. Finally, 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 report on Thursday, July 6th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $5.67.
Noble Corporation (NE) traded down 2.09% during trading on Tuesday, hitting $3.75. 1,625,684 shares of the stock traded hands. The stock’s market cap is $918.39 million. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $8.37. The firm’s 50-day moving average is $3.90 and its 200 day moving average is $4.25.
Noble Corporation (NYSE:NE) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The company had revenue of $278.10 million during the quarter, compared to analysts’ expectations of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. Noble Corporation’s revenue was down 68.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. Equities research analysts forecast that Noble Corporation will post ($1.25) earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its stake in Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 2,816 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Noble Corporation in the first quarter valued at about $139,000. Founders Capital Management boosted its stake in Noble Corporation by 95.9% in the second quarter. Founders Capital Management now owns 30,270 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 14,820 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in Noble Corporation by 126.1% in the first quarter. Tudor Investment Corp ET AL now owns 30,300 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 16,900 shares in the last quarter. Finally, Advantus Capital Management Inc boosted its stake in Noble Corporation by 3.6% in the first quarter. Advantus Capital Management Inc now owns 31,328 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 1,098 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.
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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