Seaport Global Securities lowered shares of Noble Corp. (NYSE:NE) from an accumulate rating to a neutral rating in a research note released on Friday morning. Seaport Global Securities currently has $6.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Jefferies Group reiterated a hold rating on shares of Noble Corp. in a research note on Sunday, July 10th. Evercore ISI reiterated a buy rating on shares of Noble Corp. in a research note on Saturday, July 2nd. Zacks Investment Research downgraded Noble Corp. from a hold rating to a sell rating in a research note on Wednesday, June 29th. Argus downgraded Noble Corp. from a hold rating to a sell rating in a research note on Wednesday, August 10th. Finally, Vetr upgraded Noble Corp. from a hold rating to a buy rating and set a $9.76 price objective on the stock in a research note on Monday, June 13th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $8.43.

Shares of Noble Corp. (NYSE:NE) traded up 3.26% during trading on Friday, hitting $6.34. The stock had a trading volume of 4,026,620 shares. The company has a market cap of $1.54 billion, a PE ratio of 2.64 and a beta of 2.09. The firm’s 50 day moving average is $5.83 and its 200 day moving average is $8.18. 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 EPS 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 firm earned $894.70 million during the quarter, compared to analysts’ expectations of $527.48 million. During the same quarter in the previous year, the company posted $0.64 EPS. Noble Corp.’s revenue for the quarter was down 37.2% on a year-over-year basis. Equities research analysts anticipate that Noble Corp. will post ($0.06) EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Noble Corp. by 6.9% in the second quarter. Vanguard Group Inc. now owns 30,239,221 shares of the company’s stock valued at $249,170,000 after buying an additional 1,947,799 shares during the period. Dimensional Fund Advisors LP boosted its stake in Noble Corp. by 56.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,805,125 shares of the company’s stock valued at $89,037,000 after buying an additional 3,897,284 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Noble Corp. by 26.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,202,846 shares of the company’s stock valued at $75,831,000 after buying an additional 1,928,876 shares during the period. State Street Corp boosted its stake in Noble Corp. by 4.2% in the second quarter. State Street Corp now owns 8,028,403 shares of the company’s stock valued at $66,143,000 after buying an additional 324,456 shares during the period. Finally, First Trust Advisors LP boosted its stake in Noble Corp. by 6.5% in the second quarter. First Trust Advisors LP now owns 3,889,634 shares of the company’s stock valued at $32,051,000 after buying an additional 236,283 shares during the period. 90.22% of the stock is owned by institutional investors.

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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