Noble (NYSE:NE) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Monday.
NE has been the topic of several other reports. Simmons upgraded Noble from an “underweight” rating to a “neutral” rating and upped their target price for the company from $3.25 to $6.00 in a report on Monday, October 1st. Credit Suisse Group set a $6.00 target price on Noble and gave the company a “hold” rating in a report on Monday, September 24th. Piper Jaffray Companies upgraded Noble from an “underweight” rating to a “hold” rating and set a $6.00 target price on the stock in a report on Monday, October 1st. Susquehanna Bancshares set a $8.00 target price on Noble and gave the company a “hold” rating in a report on Wednesday, October 10th. Finally, Nordea Equity Research upgraded Noble from a “sell” rating to a “hold” rating in a report on Friday, September 28th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Noble currently has a consensus rating of “Hold” and a consensus price target of $6.24.
NYSE:NE opened at $4.91 on Monday. The stock has a market cap of $1.23 billion, a PE ratio of -4.31 and a beta of 2.24. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.81. Noble has a 1-year low of $3.39 and a 1-year high of $7.44.
A number of hedge funds have recently made changes to their positions in NE. Rhumbline Advisers lifted its stake in Noble by 2.0% in the second quarter. Rhumbline Advisers now owns 593,284 shares of the oil and gas company’s stock valued at $3,755,000 after buying an additional 11,379 shares during the period. Aperio Group LLC lifted its stake in Noble by 9.6% in the third quarter. Aperio Group LLC now owns 156,697 shares of the oil and gas company’s stock valued at $1,102,000 after buying an additional 13,757 shares during the period. Welch & Forbes LLC acquired a new position in Noble in the third quarter valued at approximately $115,000. NumerixS Investment Technologies Inc acquired a new position in Noble in the second quarter valued at approximately $229,000. Finally, Laurion Capital Management LP acquired a new position in Noble in the second quarter valued at approximately $284,000. Institutional investors and hedge funds own 86.43% of the company’s stock.
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.
Read More: Earnings Per Share
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.