Boston Advisors LLC increased its stake in Noble Corp. (NYSE:NE) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,259 shares of the company’s stock after buying an additional 3,029 shares during the period. Boston Advisors LLC’s holdings in Noble Corp. were worth $472,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock valued at $111,000 after buying an additional 550 shares during the period. LS Investment Advisors LLC raised its stake in Noble Corp. by 77.4% in the second quarter. LS Investment Advisors LLC now owns 14,861 shares of the company’s stock valued at $122,000 after buying an additional 6,483 shares during the period. James Investment Research Inc. acquired a new stake in Noble Corp. during the second quarter valued at $124,000. Oakbrook Investments LLC acquired a new stake in Noble Corp. during the second quarter valued at $182,000. Finally, IBM Retirement Fund raised its stake in Noble Corp. by 0.3% in the second quarter. IBM Retirement Fund now owns 24,435 shares of the company’s stock valued at $201,000 after buying an additional 82 shares during the period. 90.26% of the stock is currently owned by institutional investors.
Shares of Noble Corp. (NYSE:NE) traded up 3.03% on Wednesday, hitting $6.13. The company had a trading volume of 17,003,274 shares. The firm’s 50 day moving average price is $5.84 and its 200-day moving average price is $8.23. The stock has a market capitalization of $1.49 billion, a PE ratio of 2.55 and a beta of 2.09. Noble Corp. has a 52 week low of $5.09 and a 52 week high of $14.64.
Noble Corp. (NYSE:NE) last issued its earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.22. The company 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 was down 37.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Analysts forecast that Noble Corp. will post ($0.06) earnings per share for the current fiscal year.
Several research firms recently weighed in on NE. Jefferies Group reaffirmed a “hold” rating on shares of Noble Corp. in a research note on Sunday, July 10th. Vetr downgraded Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $6.90 target price for the company. in a research report on Wednesday, September 28th. Zacks Investment Research downgraded Noble Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Argus downgraded Noble Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $6.50 target price on shares of Noble Corp. in a research report on Wednesday, September 14th. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.65.
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.
Want to see what other hedge funds are holding NE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Noble Corp. (NYSE:NE).
Receive News & Ratings for Noble Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Corp. and related companies with MarketBeat.com's FREE daily email newsletter.