Shares of Noble Corporation (NYSE:NE) have been assigned an average rating of “Hold” from the thirty-two analysts that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.91.

NE has been the topic of a number of research analyst reports. Citigroup Inc. lowered Noble Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $11.00 to $4.70 in a report on Friday, June 16th. Seaport Global Securities lowered Noble Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $3.50 in a report on Wednesday, June 21st. Bank of America Corporation lowered Noble Corporation from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $7.00 to $2.00 in a report on Friday, June 30th. Jefferies Group LLC set a $7.00 price target on Noble Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. Finally, Sanford C. Bernstein lowered Noble Corporation from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $7.00 to $2.50 in a report on Thursday, July 6th.

Noble Corporation (NYSE NE) traded up 1.32% during trading on Wednesday, hitting $4.60. 5,441,562 shares of the stock were exchanged. The company’s market cap is $1.13 billion. Noble Corporation has a one year low of $3.14 and a one year high of $8.37. The stock’s 50 day moving average is $3.53 and its 200-day moving average is $4.43.

Noble Corporation (NYSE:NE) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The company had revenue of $278.10 million for the quarter, compared to analyst estimates of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The company’s quarterly revenue was down 68.9% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. On average, equities research analysts expect that Noble Corporation will post ($1.25) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://www.thecerbatgem.com/2017/09/30/noble-corporation-ne-receives-5-91-consensus-price-target-from-analysts.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Noble Corporation by 37.6% during 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 period. Vanguard Group Inc. boosted its position in Noble Corporation by 16.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock worth $85,155,000 after acquiring an additional 3,371,015 shares during the period. State Street Corp boosted its position in Noble Corporation by 31.7% during the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock worth $81,248,000 after acquiring an additional 5,405,697 shares during the period. Dimensional Fund Advisors LP boosted its position in Noble Corporation by 57.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,624,594 shares of the oil and gas company’s stock worth $127,666,000 after acquiring an additional 7,514,153 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Noble Corporation by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock worth $20,437,000 after acquiring an additional 145,172 shares during the period. Hedge funds and other institutional investors own 95.64% of the company’s stock.

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.

Analyst Recommendations 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.