Noble Corp. (NYSE:NE) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 42,842,877 shares, a growth of 8.9% from the September 15th total of 39,332,397 shares. Based on an average trading volume of 12,023,920 shares, the short-interest ratio is currently 3.6 days. Approximately 17.8% of the company’s shares are sold short.
Several equities research analysts recently issued reports on the stock. Jefferies Group reissued a “hold” rating on shares of Noble Corp. in a research report on Sunday, July 10th. Evercore ISI reaffirmed a “buy” rating on shares of Noble Corp. in a research report on Saturday, July 2nd. Zacks Investment Research cut shares of Noble Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Argus cut shares of Noble Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Finally, Howard Weil assumed coverage on shares of Noble Corp. in a research report on Wednesday, September 14th. They set a “sector perform” rating and a $6.50 price target on the stock. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $8.43.
Noble Corp. (NYSE:NE) opened at 5.90 on Monday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 2.46 and a beta of 2.09. The stock’s 50 day moving average is $5.83 and its 200 day moving average is $8.03. Noble Corp. has a 52-week low of $5.09 and a 52-week 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 for the quarter, missing the consensus estimate of $0.23 by $0.22. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The business earned $894.70 million during the quarter, compared to the consensus estimate of $527.48 million. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was down 37.2% compared to the same quarter last year. On average, analysts predict that Noble Corp. will post ($0.06) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC acquired a new stake in Noble Corp. during the second quarter valued at $102,000. LS Investment Advisors LLC boosted 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 in the last quarter. James Investment Research Inc. acquired a new stake in Noble Corp. during the second quarter valued at $124,000. World Asset Management Inc boosted its stake in Noble Corp. by 3.9% in the second quarter. World Asset Management Inc now owns 16,600 shares of the company’s stock valued at $137,000 after buying an additional 618 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Noble Corp. by 371.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 16,794 shares of the company’s stock valued at $138,000 after buying an additional 13,233 shares in the last quarter. 90.22% of the stock is owned by institutional investors.
Noble Corp. Company Profile
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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