Traders Purchase Large Volume of Put Options on Noble (NE)

Noble Co. (NYSE:NE) was the target of some unusual options trading on Thursday. Investors bought 14,131 put options on the stock. This represents an increase of 1,669% compared to the average volume of 799 put options.

Several institutional investors and hedge funds have recently modified their holdings of the company. Gargoyle Investment Advisor L.L.C. grew its position in shares of Noble by 18.8% in the 1st quarter. Gargoyle Investment Advisor L.L.C. now owns 68,883 shares of the oil and gas company’s stock worth $256,000 after acquiring an additional 10,883 shares in the last quarter. Zeke Capital Advisors LLC grew its position in shares of Noble by 76.0% in the 1st quarter. Zeke Capital Advisors LLC now owns 27,118 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 11,711 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Noble by 2.8% in the 3rd quarter. California State Teachers Retirement System now owns 444,840 shares of the oil and gas company’s stock worth $2,046,000 after acquiring an additional 12,067 shares in the last quarter. Rhumbline Advisers grew its position in shares of Noble by 2.3% in the 1st quarter. Rhumbline Advisers now owns 581,905 shares of the oil and gas company’s stock worth $2,159,000 after acquiring an additional 13,251 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC grew its position in shares of Noble by 7.2% in the 1st quarter. Energy Opportunities Capital Management LLC now owns 326,966 shares of the oil and gas company’s stock worth $1,213,000 after acquiring an additional 22,080 shares in the last quarter. Institutional investors own 86.82% of the company’s stock.

Shares of Noble opened at $5.85 on Friday, according to MarketBeat. The company has a market capitalization of $1.40 billion, a PE ratio of -5.13 and a beta of 2.16. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.68. Noble has a 52 week low of $5.49 and a 52 week high of $5.61.

Noble (NYSE:NE) last issued its earnings results on Wednesday, May 2nd. The oil and gas company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.02. The company had revenue of $235.16 million during the quarter, compared to analyst estimates of $228.45 million. Noble had a negative return on equity of 6.29% and a negative net margin of 32.20%. The business’s revenue was down 35.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. equities analysts expect that Noble will post -1.83 earnings per share for the current year.

Several research firms have issued reports on NE. ValuEngine upgraded Noble from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Susquehanna Bancshares set a $5.00 price objective on Noble and gave the stock a “hold” rating in a report on Friday, February 16th. Cowen restated a “hold” rating and set a $4.00 price objective on shares of Noble in a report on Thursday, March 15th. Piper Jaffray set a $3.00 price objective on Noble and gave the stock a “sell” rating in a report on Monday, February 26th. Finally, Seaport Global Securities set a $4.00 price objective on Noble and gave the stock a “hold” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.41.

Noble Company Profile

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, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

Receive News & Ratings for Noble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply