Mraz Amerine & Associates Inc. cut its position in Noble Corp. (NYSE:NE) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,075 shares of the company’s stock after selling 500 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Noble Corp. were worth $314,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Speece Thorson Capital Group Inc. raised its stake in Noble Corp. by 20.3% in the second quarter. Speece Thorson Capital Group Inc. now owns 1,573,228 shares of the company’s stock worth $12,963,000 after buying an additional 265,625 shares during the last quarter. James Investment Research Inc. purchased a new stake in Noble Corp. during the second quarter valued at approximately $124,000. PGGM Investments raised its stake in Noble Corp. by 2.5% in the first quarter. PGGM Investments now owns 166,830 shares of the company’s stock valued at $1,727,000 after buying an additional 4,048 shares in the last quarter. Sippican Capital Advisors raised its stake in Noble Corp. by 35.1% in the second quarter. Sippican Capital Advisors now owns 162,414 shares of the company’s stock valued at $1,338,000 after buying an additional 42,187 shares in the last quarter. Finally, First Quadrant L P CA raised its stake in Noble Corp. by 4.9% in the second quarter. First Quadrant L P CA now owns 750,498 shares of the company’s stock valued at $6,184,000 after buying an additional 35,000 shares in the last quarter. Hedge funds and other institutional investors own 90.26% of the company’s stock.
Shares of Noble Corp. (NYSE:NE) traded down 1.61% during midday trading on Tuesday, hitting $5.49. 7,730,849 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $5.94 and its 200-day moving average is $8.43. The stock has a market cap of $1.34 billion, a PE ratio of 2.29 and a beta of 2.05. Noble Corp. has a 1-year low of $5.09 and a 1-year high of $14.64.
Noble Corp. (NYSE:NE) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. The firm had revenue of $894.70 million for the quarter, compared to analysts’ expectations of $527.48 million. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The company’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts predict that Noble Corp. will post ($0.06) earnings per share for the current fiscal year.
NE has been the topic of several analyst reports. Credit Suisse Group AG restated a “buy” rating and set a $10.00 price target on shares of Noble Corp. in a research report on Thursday, September 1st. Citigroup Inc. dropped their price target on shares of Noble Corp. from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Scotiabank restated a “sector perform” rating and set a $6.50 price target on shares of Noble Corp. in a research report on Wednesday, September 14th. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a research report on Thursday, September 22nd. Finally, Vetr lowered shares of Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $7.10 price target on the stock. in a research report on Thursday, September 8th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Noble Corp. currently has a consensus rating of “Hold” and a consensus price target of $8.85.
About Noble Corp.
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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