Noble Corporation (NYSE:NE) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 37,980,810 shares, a decline of 19.9% from the October 31st total of 47,441,898 shares. Based on an average daily volume of 7,909,839 shares, the short-interest ratio is presently 4.8 days. Currently, 15.7% of the shares of the stock are sold short.

Shares of Noble (NYSE NE) opened at $3.98 on Wednesday. Noble has a twelve month low of $3.14 and a twelve month high of $8.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.

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

A number of large investors have recently made changes to their positions in the business. Sterling Capital Management LLC raised its holdings in Noble by 0.9% during the 3rd quarter. Sterling Capital Management LLC now owns 2,302,948 shares of the oil and gas company’s stock worth $10,594,000 after purchasing an additional 20,981 shares during the last quarter. California Public Employees Retirement System raised its holdings in Noble by 62.2% during the 3rd quarter. California Public Employees Retirement System now owns 2,385,742 shares of the oil and gas company’s stock worth $10,974,000 after purchasing an additional 914,823 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Noble during the 3rd quarter worth about $102,000. Highbridge Capital Management LLC bought a new stake in Noble during the 3rd quarter worth about $345,000. Finally, Allianz Asset Management GmbH bought a new stake in Noble during the 3rd quarter worth about $4,001,000. 87.29% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on NE. Royal Bank Of Canada set a $5.00 price target on shares of Noble and gave the stock a “hold” rating in a research report on Sunday, November 12th. Zacks Investment Research downgraded shares of Noble from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Piper Jaffray Companies reiterated a “hold” rating and set a $2.85 price target on shares of Noble in a research report on Sunday, October 22nd. Cowen set a $3.00 price target on shares of Noble and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, began coverage on shares of Noble in a research report on Thursday, October 19th. They set a “buy” rating and a $5.30 price target on the stock. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company. Noble has an average rating of “Hold” and an average target price of $5.56.

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About Noble

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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