Noble Corp. (NYSE:NE) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 46,455,210 shares, a decrease of 17.2% from the October 31st total of 56,092,250 shares. Based on an average daily volume of 13,284,869 shares, the short-interest ratio is presently 3.5 days. Approximately 19.3% of the company’s shares are short sold.

Several hedge funds and other institutional investors have recently modified their holdings of NE. LS Investment Advisors LLC raised its position in shares of Noble Corp. by 5.6% in the third quarter. LS Investment Advisors LLC now owns 15,695 shares of the company’s stock valued at $100,000 after buying an additional 834 shares during the last quarter. Global Endowment Management LP purchased a new position in shares of Noble Corp. during the third quarter valued at approximately $100,000. Capstone Investment Advisors LLC purchased a new position in shares of Noble Corp. during the second quarter valued at approximately $102,000. Acadian Asset Management LLC raised its position in shares of Noble Corp. by 1,343.9% in the third quarter. Acadian Asset Management LLC now owns 16,114 shares of the company’s stock valued at $102,000 after buying an additional 14,998 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Noble Corp. by 112.7% in the third quarter. Advisor Group Inc. now owns 15,989 shares of the company’s stock valued at $102,000 after buying an additional 8,472 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Noble Corp. (NYSE:NE) opened at 6.22 on Thursday. The stock has a market cap of $1.51 billion, a PE ratio of 7.21 and a beta of 2.10. Noble Corp. has a 12 month low of $4.45 and a 12 month high of $13.90. The stock has a 50 day moving average price of $5.46 and a 200-day moving average price of $6.86.

Noble Corp. (NYSE:NE) last issued its earnings results on Thursday, November 3rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.04. The firm earned $385.20 million during the quarter, compared to analyst estimates of $646.42 million. Noble Corp. had a return on equity of 2.14% and a net margin of 7.90%. Noble Corp.’s revenue was down 57.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. On average, analysts expect that Noble Corp. will post ($0.07) EPS for the current year.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Noble Corp. in a research note on Friday, November 4th. Nomura reiterated a “sell” rating and set a $4.00 price target on shares of Noble Corp. in a research note on Friday, November 4th. Zacks Investment Research upgraded shares of Noble Corp. from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Vetr downgraded Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $6.90 price objective for the company. in a research report on Wednesday, September 28th. Finally, BMO Capital Markets reissued a “sell” rating on shares of Noble Corp. in a research report on Tuesday, November 8th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Noble Corp. currently has an average rating of “Hold” and an average price target of $7.99.

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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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