1,336,902 Shares of Noble Corporation PLC $NE Acquired by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC bought a new stake in shares of Noble Corporation PLC (NYSE:NE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,336,902 shares of the company’s stock, valued at approximately $55,802,000. Noble makes up about 1.6% of Avidian Wealth Enterprises LLC’s portfolio, making the stock its 13th biggest position. Avidian Wealth Enterprises LLC owned approximately 0.84% of Noble as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of NE. Bank of America Corp DE lifted its position in shares of Noble by 101.9% in the second quarter. Bank of America Corp DE now owns 1,347,291 shares of the company’s stock valued at $50,254,000 after acquiring an additional 679,981 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Noble by 2.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,957,162 shares of the company’s stock valued at $520,602,000 after purchasing an additional 395,316 shares during the last quarter. State Street Corp raised its stake in Noble by 4.1% in the 2nd quarter. State Street Corp now owns 5,428,507 shares of the company’s stock valued at $202,483,000 after purchasing an additional 215,799 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Noble in the 2nd quarter valued at about $1,481,000. Finally, De Lisle Partners LLP acquired a new stake in shares of Noble during the 4th quarter worth about $824,000. 68.14% of the stock is currently owned by institutional investors and hedge funds.

Noble Trading Up 3.8%

Shares of NE stock traded up $1.56 on Thursday, reaching $42.53. 346,988 shares of the stock were exchanged, compared to its average volume of 1,663,911. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.42. The stock has a market cap of $6.79 billion, a P/E ratio of 45.73 and a beta of 1.00. The firm has a 50 day moving average of $44.10 and a two-hundred day moving average of $45.44. Noble Corporation PLC has a 1-year low of $26.69 and a 1-year high of $54.98.

Noble (NYSE:NE) last issued its earnings results on Monday, July 27th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.14). The firm had revenue of $719.69 million during the quarter, compared to analyst estimates of $697.98 million. Noble had a net margin of 4.88% and a return on equity of 1.93%. Noble’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. On average, research analysts anticipate that Noble Corporation PLC will post 0.4 EPS for the current year.

Noble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 3rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Thursday, September 3rd. Noble’s dividend payout ratio is 215.05%.

Analyst Ratings Changes

NE has been the subject of several recent analyst reports. Wall Street Zen cut shares of Noble from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Fearnley Fonds upgraded Noble from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Barclays lowered their price objective on Noble from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Citigroup reiterated a “neutral” rating on shares of Noble in a research note on Monday, September 7th. Finally, Zacks Research downgraded Noble from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.29.

Noble Profile

Noble Corporation plc (NYSE: NE) is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates a fleet of offshore drilling rigs, including drillships, semisubmersible rigs and jackup rigs, which are used for exploration, development and production activities in offshore oil and gas fields.

Noble’s services include contract drilling, rig operations, well-construction support and related offshore services. Its fleet is designed to work in a range of water depths and operating environments, including deepwater and harsh-environment locations.