Noble Corporation (NE) Short Interest Up 10.9% in October
Noble Corporation (NYSE:NE) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 47,441,898 shares, an increase of 10.9% from the October 13th total of 42,778,922 shares. Based on an average trading volume of 5,736,795 shares, the days-to-cover ratio is currently 8.3 days. Approximately 19.6% of the company’s shares are sold short.
A number of large investors have recently made changes to their positions in NE. BlackRock Inc. grew its stake in Noble Corporation by 13,598.2% in the 1st quarter. BlackRock Inc. now owns 23,547,082 shares of the oil and gas company’s stock valued at $145,756,000 after purchasing an additional 23,375,183 shares during the period. State Street Corp grew its stake in Noble Corporation by 31.7% in the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after purchasing an additional 5,405,697 shares during the period. Vanguard Group Inc. grew its stake in Noble Corporation by 16.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after purchasing an additional 3,371,015 shares during the period. Marshall Wace LLP grew its stake in Noble Corporation by 6,249.0% in the 2nd quarter. Marshall Wace LLP now owns 2,377,944 shares of the oil and gas company’s stock valued at $9,512,000 after purchasing an additional 2,340,490 shares during the period. Finally, SG Capital Management LLC bought a new position in Noble Corporation in the 3rd quarter valued at $9,696,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.
Noble Corporation (NYSE:NE) opened at $4.16 on Monday. 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 has a 12 month low of $3.14 and a 12 month high of $8.37.
Noble Corporation (NYSE:NE) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.36). The firm had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. Noble Corporation had a negative return on equity of 3.94% and a negative net margin of 136.22%. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. equities analysts anticipate that Noble Corporation will post -1.17 EPS for the current fiscal year.
NE has been the topic of several recent analyst reports. Royal Bank Of Canada set a $5.00 price target on Noble Corporation and gave the company a “hold” rating in a research note on Sunday, November 12th. Zacks Investment Research lowered Noble Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Piper Jaffray Companies reissued a “hold” rating and issued a $2.85 price target on shares of Noble Corporation in a research note on Sunday, October 22nd. Cowen and Company set a $3.00 price target on Noble Corporation and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, initiated coverage on Noble Corporation in a research note on Thursday, October 19th. They issued a “buy” rating and a $5.30 price target on the stock. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the stock. Noble Corporation currently has an average rating of “Hold” and a consensus price target of $5.56.
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About Noble Corporation
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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