Shares of Noble Corporation (NYSE:NE) gapped up prior to trading on Monday . The stock had previously closed at $4.06, but opened at $4.18. Noble shares last traded at $4.46, with a volume of 8413900 shares changing hands.

NE has been the topic of a number of research reports. Piper Jaffray Companies restated a “hold” rating and issued a $2.85 price target on shares of Noble in a report on Sunday, October 22nd. Deutsche Bank initiated coverage on Noble in a report on Tuesday, October 10th. They issued a “hold” rating and a $4.00 price target on the stock. Royal Bank Of Canada set a $5.00 price target on Noble and gave the company a “hold” rating in a report on Saturday, October 7th. Cowen set a $3.00 price target on Noble and gave the company a “hold” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research lowered Noble from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. Noble currently has a consensus rating of “Hold” and a consensus target price of $5.56.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Noble by 31.7% during the second 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. Contrarius Investment Management Ltd boosted its holdings in shares of Noble by 21.7% during the third quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock worth $30,504,000 after acquiring an additional 1,184,494 shares during the period. River & Mercantile Asset Management LLP boosted its holdings in shares of Noble by 15.0% during the second quarter. River & Mercantile Asset Management LLP now owns 1,132,617 shares of the oil and gas company’s stock worth $4,094,000 after acquiring an additional 147,797 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Noble by 112.0% during the second quarter. SG Americas Securities LLC now owns 330,546 shares of the oil and gas company’s stock worth $1,197,000 after acquiring an additional 174,656 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Noble by 33.8% during the second quarter. Northern Trust Corp now owns 3,337,639 shares of the oil and gas company’s stock worth $12,082,000 after acquiring an additional 843,007 shares during the period. 87.10% of the stock is currently owned by hedge funds and other institutional investors.

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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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