Sterling Capital Management LLC bought a new stake in Noble Co. PLC (NYSE:NE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 188,442 shares of the oil and gas company’s stock, valued at approximately $1,325,000. Sterling Capital Management LLC owned 0.08% of Noble as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in NE. Welch & Forbes LLC purchased a new position in Noble during the third quarter worth about $115,000. NumerixS Investment Technologies Inc purchased a new position in Noble during the second quarter worth about $229,000. Laurion Capital Management LP purchased a new position in Noble during the second quarter worth about $284,000. LMR Partners LLP purchased a new position in Noble during the second quarter worth about $317,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Noble during the second quarter worth about $330,000. Institutional investors and hedge funds own 85.88% of the company’s stock.
A number of equities analysts have commented on the stock. Barclays downgraded shares of Noble from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $4.00 to $5.00 in a research note on Thursday, August 9th. Seaport Global Securities set a $5.00 target price on shares of Noble and gave the stock a “hold” rating in a research note on Monday, August 6th. Zacks Investment Research raised shares of Noble from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Wednesday, August 1st. Nordea Equity Research raised shares of Noble from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. Finally, BTIG Research assumed coverage on shares of Noble in a research note on Monday, September 17th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $6.24.
Noble (NYSE:NE) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. Noble had a negative net margin of 79.51% and a negative return on equity of 8.26%. The business had revenue of $279.41 million during the quarter, compared to analysts’ expectations of $263.19 million. During the same period last year, the business earned ($0.36) earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Noble Co. PLC will post -1.85 earnings per share for the current fiscal year.
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.
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