Noble Corporation (NYSE:NE) dropped 0% during mid-day trading on Monday . The company traded as low as $4.34 and last traded at $4.63. Approximately 8,633,500 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 6,592,890 shares. The stock had previously closed at $4.63.

NE has been the subject of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $5.50 target price (down previously from $7.00) on shares of Noble Corporation in a research report on Tuesday, July 18th. Royal Bank Of Canada reissued a “sell” rating and issued a $5.00 target price on shares of Noble Corporation in a research report on Thursday, July 20th. ValuEngine cut shares of Noble Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Societe Generale cut shares of Noble Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Piper Jaffray Companies set a $4.00 price objective on shares of Noble Corporation and gave the stock a “hold” rating in a research report on Monday, August 7th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.56.

The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64.

Noble Corporation (NYSE:NE) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.36). Noble Corporation had a negative return on equity of 3.94% and a negative net margin of 136.22%. The company had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $269.61 million. During the same period last year, the business earned ($0.23) EPS. Noble Corporation’s quarterly revenue was down 30.9% compared to the same quarter last year. analysts anticipate that Noble Corporation will post -1.17 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of NE. FMR LLC increased its position in shares of Noble Corporation by 197.4% during the 1st quarter. FMR LLC now owns 984,300 shares of the oil and gas company’s stock valued at $6,093,000 after purchasing an additional 653,300 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Noble Corporation by 8.9% during the 1st quarter. Teachers Advisors LLC now owns 281,419 shares of the oil and gas company’s stock valued at $1,742,000 after purchasing an additional 23,067 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Noble Corporation by 1.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 745,736 shares of the oil and gas company’s stock valued at $4,616,000 after purchasing an additional 11,547 shares during the last quarter. Vanguard Group Inc. increased its holdings in Noble Corporation by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock worth $124,744,000 after acquiring an additional 188,754 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Noble Corporation by 5.4% in the 1st quarter. Geode Capital Management LLC now owns 1,885,668 shares of the oil and gas company’s stock worth $11,672,000 after acquiring an additional 96,028 shares during the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.

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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.

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