Noble (NYSE:NE) Shares Gap Up to $1.15

Noble Co. PLC (NYSE:NE)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $1.11, but opened at $1.15. Noble shares last traded at $1.17, with a volume of 2,826,966 shares changing hands.

Several brokerages have recently issued reports on NE. Morgan Stanley reduced their price target on Noble from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Monday. ValuEngine upgraded Noble from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup cut Noble from a “neutral” rating to a “sell” rating and set a $1.00 price objective on the stock. in a research report on Monday, September 23rd. HSBC set a $3.00 price objective on Noble and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, SEB Equities cut Noble from a “buy” rating to a “sell” rating and lowered their price objective for the company from $2.80 to $1.50 in a research report on Tuesday, June 18th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $3.70.

The company has a 50 day moving average of $1.54 and a 200 day moving average of $2.03. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The firm has a market cap of $279.05 million, a price-to-earnings ratio of -0.64 and a beta of 2.51.



Noble (NYSE:NE) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.11. The business had revenue of $292.90 million for the quarter, compared to analyst estimates of $271.59 million. Noble had a negative return on equity of 8.14% and a negative net margin of 28.97%. Noble’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.49) EPS. As a group, sell-side analysts anticipate that Noble Co. PLC will post -1.65 EPS for the current fiscal year.

In other news, Director Julie H. Edwards bought 25,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $1.24 per share, for a total transaction of $31,000.00. Following the completion of the transaction, the director now directly owns 189,302 shares in the company, valued at approximately $234,734.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NE. NumerixS Investment Technologies Inc increased its stake in shares of Noble by 161.0% during the first quarter. NumerixS Investment Technologies Inc now owns 70,200 shares of the oil and gas company’s stock worth $200,000 after purchasing an additional 43,300 shares during the period. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Noble during the first quarter worth approximately $29,000. Sippican Capital Advisors increased its stake in shares of Noble by 13.2% during the second quarter. Sippican Capital Advisors now owns 343,085 shares of the oil and gas company’s stock worth $642,000 after purchasing an additional 39,890 shares during the period. World Asset Management Inc increased its stake in shares of Noble by 18.0% during the second quarter. World Asset Management Inc now owns 45,695 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 6,978 shares during the period. Finally, Creative Planning increased its stake in shares of Noble by 509.3% during the second quarter. Creative Planning now owns 61,492 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 51,400 shares during the period. Institutional investors and hedge funds own 77.19% of the company’s stock.

Noble Company Profile (NYSE:NE)

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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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