Van ECK Associates Corp lowered its stake in shares of Noble Corporation (NYSE:NE) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,142,873 shares of the oil and gas company’s stock after selling 63,649 shares during the period. Van ECK Associates Corp owned approximately 1.28% of Noble Corporation worth $11,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NE. Quantitative Investment Management LLC acquired a new stake in shares of Noble Corporation in the 2nd quarter worth about $2,598,000. ProShare Advisors LLC raised its holdings in shares of Noble Corporation by 9.1% in the 2nd quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock worth $176,000 after acquiring an additional 4,047 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Noble Corporation by 37.6% in the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock worth $117,253,000 after acquiring an additional 8,843,373 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Noble Corporation by 11.0% in the 2nd quarter. Bridgewater Associates LP now owns 4,043,232 shares of the oil and gas company’s stock worth $14,636,000 after acquiring an additional 401,362 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Noble Corporation by 93.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,316,036 shares of the oil and gas company’s stock worth $4,764,000 after acquiring an additional 636,334 shares during the last quarter. Hedge funds and other institutional investors own 95.64% of the company’s stock.

A number of equities research analysts recently weighed in on NE shares. Citigroup Inc. lowered shares of Noble Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $11.00 to $4.70 in a report on Friday, June 16th. Royal Bank Of Canada upgraded shares of Noble Corporation from an “underperform” rating to a “sector perform” rating and set a $5.00 target price on the stock in a report on Friday, August 25th. Piper Jaffray Companies set a $4.00 target price on shares of Noble Corporation and gave the stock a “hold” rating in a report on Monday, August 7th. Bank of America Corporation lowered shares of Noble Corporation from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $7.00 to $2.00 in a report on Friday, June 30th. Finally, Societe Generale lowered shares of Noble Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.94.

WARNING: This piece of content was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/23/van-eck-associates-corp-reduces-stake-in-noble-corporation-ne.html.

Noble Corporation (NYSE NE) opened at 4.13 on Friday. The company’s market capitalization is $1.01 billion. Noble Corporation has a 12-month low of $3.14 and a 12-month high of $8.37. The company has a 50-day moving average of $3.53 and a 200 day moving average of $4.43.

Noble Corporation (NYSE:NE) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The firm had revenue of $278.10 million during the quarter, compared to analysts’ expectations of $284.99 million. During the same period in the previous year, the company earned $0.01 earnings per share. The firm’s quarterly revenue was down 68.9% on a year-over-year basis. Equities research analysts forecast that Noble Corporation will post ($1.25) earnings per share for the current fiscal year.

Noble Corporation 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.

Want to see what other hedge funds are holding NE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Noble Corporation (NYSE:NE).

Institutional Ownership by Quarter for Noble Corporation (NYSE:NE)

Receive News & Stock Ratings for Noble Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Corporation and related stocks with our FREE daily email newsletter.