Noble Co. (NYSE:NE) – Analysts at Jefferies Group upped their FY2017 earnings estimates for Noble in a report issued on Wednesday. Jefferies Group analyst E. Royes now forecasts that the oil and gas company will post earnings per share of ($1.12) for the year, up from their prior estimate of ($1.13). Jefferies Group has a “Buy” rating and a $6.00 price target on the stock. Jefferies Group also issued estimates for Noble’s Q4 2017 earnings at ($0.30) EPS, FY2018 earnings at ($1.60) EPS, FY2019 earnings at ($1.75) EPS and FY2020 earnings at ($1.10) EPS.

Several other research firms have also recently issued reports on NE. Zacks Investment Research cut shares of Noble from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Cowen set a $5.00 target price on shares of Noble and gave the company a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies restated an “underweight” rating on shares of Noble in a research note on Thursday, January 11th. ValuEngine cut shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Finally, initiated coverage on shares of Noble in a research note on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.24.

Noble (NYSE:NE) opened at $4.03 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market cap of $1,038.66, a PE ratio of -0.55 and a beta of 2.21. Noble has a one year low of $3.14 and a one year high of $7.76.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NE. Wells Fargo & Company MN increased its position in shares of Noble by 27.8% during the 2nd quarter. Wells Fargo & Company MN now owns 402,266 shares of the oil and gas company’s stock valued at $1,456,000 after purchasing an additional 87,520 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Noble by 200.3% during the 2nd quarter. Alliancebernstein L.P. now owns 488,840 shares of the oil and gas company’s stock valued at $1,770,000 after purchasing an additional 326,057 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Noble by 55.2% during the 2nd quarter. Teachers Advisors LLC now owns 436,818 shares of the oil and gas company’s stock valued at $1,581,000 after purchasing an additional 155,399 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Noble by 93.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,316,036 shares of the oil and gas company’s stock valued at $4,764,000 after purchasing an additional 636,334 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Noble by 37.6% during the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after purchasing an additional 8,843,373 shares during the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.

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Noble 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.

Earnings History and Estimates for Noble (NYSE:NE)

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