Noble (NYSE:NE) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Noble (NYSE:NE) from a hold rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. Capital One Financial cut shares of Noble from an equal weight rating to an underweight rating in a research report on Tuesday, March 17th. Wells Fargo & Co lowered shares of Noble from an equal weight rating to an underweight rating in a research note on Friday, March 13th. Tudor Pickering lowered shares of Noble from a buy rating to a sell rating in a research note on Wednesday, March 11th. HSBC lowered shares of Noble from a buy rating to a reduce rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $1.50 target price on shares of Noble in a report on Tuesday, February 25th. Eleven research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Sell and an average target price of $1.75.

NYSE NE remained flat at $$0.23 on Thursday. 2,991,473 shares of the company’s stock were exchanged, compared to its average volume of 4,702,919. Noble has a 12 month low of $0.20 and a 12 month high of $3.10. The firm has a market cap of $57.94 million, a price-to-earnings ratio of -0.08 and a beta of 2.85. The firm’s 50 day moving average price is $0.50 and its 200-day moving average price is $1.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.82 and a quick ratio of 0.82.

Noble (NYSE:NE) last released its earnings results on Wednesday, February 19th. The oil and gas company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.17. The company had revenue of $454.09 million for the quarter, compared to analysts’ expectations of $261.53 million. Noble had a negative net margin of 53.67% and a negative return on equity of 9.13%. During the same quarter last year, the business earned ($0.36) EPS. As a group, research analysts predict that Noble will post -1.35 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of Noble by 506.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 40,031 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 33,428 shares in the last quarter. Shah Capital Management acquired a new position in shares of Noble during the fourth quarter valued at about $10,508,000. Millennium Management LLC increased its holdings in shares of Noble by 170.5% during the third quarter. Millennium Management LLC now owns 87,905 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 55,405 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Noble during the fourth quarter valued at about $41,000. Finally, California State Teachers Retirement System increased its holdings in shares of Noble by 8.6% during the third quarter. California State Teachers Retirement System now owns 493,978 shares of the oil and gas company’s stock valued at $627,000 after acquiring an additional 38,996 shares in the last quarter. Hedge funds and other institutional investors own 82.17% of the company’s stock.

About Noble

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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Analyst Recommendations for Noble (NYSE:NE)

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