Capstone Asset Management Co. reduced its position in shares of Noble Corp. (NYSE:NE) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 30,540 shares of the company’s stock after selling 630 shares during the period. Capstone Asset Management Co.’s holdings in Noble Corp. were worth $194,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in NE. IFP Advisors Inc raised its stake in shares of Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock worth $111,000 after buying an additional 550 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Noble Corp. during the second quarter valued at $102,000. LS Investment Advisors LLC raised its position in shares of Noble Corp. by 77.4% in the second quarter. LS Investment Advisors LLC now owns 14,861 shares of the company’s stock valued at $122,000 after buying an additional 6,483 shares during the period. James Investment Research Inc. bought a new position in shares of Noble Corp. during the second quarter valued at $124,000. Finally, World Asset Management Inc raised its position in shares of Noble Corp. by 3.9% in the second quarter. World Asset Management Inc now owns 16,600 shares of the company’s stock valued at $137,000 after buying an additional 618 shares during the period. 90.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Noble Corp. (NYSE:NE) opened at 6.03 on Thursday. The firm’s 50 day moving average is $5.83 and its 200 day moving average is $8.08. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 2.51 and a beta of 2.09. Noble Corp. has a 12 month low of $5.09 and a 12 month high of $14.64.
Noble Corp. (NYSE:NE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.22. The firm had revenue of $894.70 million for the quarter, compared to analyst estimates of $527.48 million. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The business’s revenue was down 37.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. On average, equities analysts predict that Noble Corp. will post ($0.06) earnings per share for the current fiscal year.
Several brokerages have weighed in on NE. Jefferies Group reaffirmed a “hold” rating on shares of Noble Corp. in a research note on Sunday, July 10th. Zacks Investment Research lowered shares of Noble Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Vetr lowered shares of Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $6.90 price objective for the company. in a research note on Wednesday, September 28th. Argus lowered shares of Noble Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Finally, Scotiabank reissued a “sector perform” rating and issued a $6.50 price objective on shares of Noble Corp. in a research note on Wednesday, September 14th. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $8.43.
Noble Corp. 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.
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