Noble Co. PLC (NYSE:NE)’s share price was down 1.7% during mid-day trading on Monday . The company traded as low as $1.13 and last traded at $1.14, approximately 48,961 shares were traded during trading. A decline of 99% from the average daily volume of 4,763,636 shares. The stock had previously closed at $1.16.
NE has been the topic of several research analyst reports. HSBC lowered shares of Noble from a “buy” rating to a “reduce” rating in a research note on Friday, December 6th. Citigroup lowered Noble from a “neutral” rating to a “sell” rating and set a $1.00 target price for the company. in a research report on Monday, September 23rd. Morgan Stanley decreased their target price on Noble from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Monday, October 7th. Fearnley Fonds lowered Noble from a “reduce” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada lowered Noble from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $9.00 to $3.00 in a research report on Wednesday, September 25th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Noble presently has an average rating of “Hold” and a consensus price target of $2.32.
The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average of $1.15 and a 200 day moving average of $1.45. The firm has a market capitalization of $276.61 million, a PE ratio of -0.62 and a beta of 2.52.
Noble (NYSE:NE) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas company reported ($0.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.53) by $0.07. The firm had revenue of $275.53 million for the quarter, compared to the consensus estimate of $260.72 million. Noble had a negative net margin of 60.35% and a negative return on equity of 8.76%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.43) EPS. On average, sell-side analysts expect that Noble Co. PLC will post -1.66 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Parallax Volatility Advisers L.P. purchased a new stake in Noble in the 2nd quarter valued at about $38,000. Voloridge Investment Management LLC bought a new stake in Noble during the third quarter worth $56,000. LPL Financial LLC lifted its holdings in Noble by 40.2% during the second quarter. LPL Financial LLC now owns 39,081 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 11,214 shares during the period. World Asset Management Inc lifted its holdings in Noble by 40.0% during the third quarter. World Asset Management Inc now owns 63,984 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 18,289 shares during the period. Finally, Millennium Management LLC boosted its position in Noble by 170.5% in the third quarter. Millennium Management LLC now owns 87,905 shares of the oil and gas company’s stock worth $111,000 after purchasing an additional 55,405 shares during the last quarter. Institutional investors and hedge funds own 82.96% of the company’s stock.
About Noble (NYSE:NE)
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.
