Noble Corporation PLC (NYSE:NE – Get Free Report) has been given an average rating of “Hold” by the eleven analysts that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $43.1250.
A number of research firms have commented on NE. Citigroup reduced their target price on Noble from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Barclays lowered their price target on Noble from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday. Evercore set a $59.00 price objective on Noble in a report on Monday, April 27th. Weiss Ratings lowered Noble from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Noble from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th.
Read Our Latest Analysis on NE
Noble Trading Up 2.7%
Noble (NYSE:NE – Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $785.69 million during the quarter, compared to analyst estimates of $730.47 million. Noble had a net margin of 7.17% and a return on equity of 2.32%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. On average, equities research analysts forecast that Noble will post 0.94 earnings per share for the current fiscal year.
Noble Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Thursday, June 4th. Noble’s payout ratio is presently 139.86%.
Insider Activity at Noble
In related news, Director Al J. Hirshberg sold 5,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $52.62, for a total transaction of $263,100.00. Following the transaction, the director owned 27,803 shares in the company, valued at $1,462,993.86. This represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Caroline Alting sold 15,340 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $52.75, for a total transaction of $809,185.00. Following the completion of the sale, the senior vice president owned 8,170 shares in the company, valued at $430,967.50. This represents a 65.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 143,550 shares of company stock valued at $6,985,436 over the last quarter. 1.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Noble
Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Noble by 44.4% during the second quarter. Versant Capital Management Inc now owns 1,243 shares of the company’s stock worth $46,000 after acquiring an additional 382 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Noble by 20.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,080 shares of the company’s stock valued at $151,000 after purchasing an additional 521 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Noble by 77.8% in the 4th quarter. GAMMA Investing LLC now owns 1,440 shares of the company’s stock valued at $41,000 after purchasing an additional 630 shares during the last quarter. Parallel Advisors LLC boosted its stake in Noble by 43.7% in the 1st quarter. Parallel Advisors LLC now owns 2,693 shares of the company’s stock worth $132,000 after purchasing an additional 819 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Noble in the 1st quarter worth approximately $218,000. 68.14% of the stock is currently owned by hedge funds and other institutional investors.
About Noble
Noble (NYSE: NE) is an offshore drilling company that provides drilling services to the global oil and gas industry. The firm operates a fleet of mobile offshore drilling units and delivers contract drilling solutions for exploration and production activities. Its core business centers on executing drilling programs for upstream energy companies across a range of water depths and operating environments.
Products and services include the operation and management of offshore drilling rigs — such as drillships, semisubmersibles and jackups — along with associated technical, engineering and project management services.
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