Principal Financial Group Inc. lifted its holdings in Noble Corporation (NYSE:NE) by 89.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,891,150 shares of the oil and gas company’s stock after acquiring an additional 893,143 shares during the period. Principal Financial Group Inc. owned 0.77% of Noble Corporation worth $6,846,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NE. Russell Investments Group Ltd. lifted its holdings in shares of Noble Corporation by 323.4% in the 1st quarter. Russell Investments Group Ltd. now owns 726,384 shares of the oil and gas company’s stock valued at $4,498,000 after acquiring an additional 554,833 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Noble Corporation by 7.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 208,997 shares of the oil and gas company’s stock valued at $1,291,000 after acquiring an additional 14,678 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Noble Corporation by 18.9% in the 1st quarter. Bank of New York Mellon Corp now owns 5,500,377 shares of the oil and gas company’s stock valued at $34,046,000 after acquiring an additional 874,434 shares during the last quarter. Comerica Bank lifted its holdings in shares of Noble Corporation by 5.8% in the 1st quarter. Comerica Bank now owns 212,391 shares of the oil and gas company’s stock valued at $1,026,000 after acquiring an additional 11,661 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Noble Corporation by 1.5% in the 1st quarter. Swiss National Bank now owns 401,898 shares of the oil and gas company’s stock valued at $2,488,000 after acquiring an additional 5,800 shares during the last quarter. 95.64% of the stock is owned by hedge funds and other institutional investors.

NE has been the subject of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.50 price target (down previously from $7.00) on shares of Noble Corporation in a report on Tuesday, July 18th. Citigroup Inc. downgraded shares of 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. Sanford C. Bernstein downgraded shares of 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. Bank of America Corporation downgraded shares of 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. Finally, ValuEngine raised shares of Noble Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Seven analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $5.85.

Noble Corporation (NE) opened at 4.60 on Friday. The company’s market capitalization is $1.13 billion. Noble Corporation has a 1-year low of $3.14 and a 1-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 released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $278.10 million for the quarter, compared to the consensus estimate of $284.99 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s revenue was down 68.9% on a year-over-year basis. On average, analysts expect that Noble Corporation will post ($1.25) earnings per share for the current fiscal year.

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Noble Corporation 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.

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

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