Noble Corporation PLC (NYSE:NE – Get Free Report) Director Charles Sledge sold 724 shares of Noble stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $51.61, for a total value of $37,365.64. Following the completion of the transaction, the director owned 1,360 shares of the company’s stock, valued at approximately $70,189.60. This represents a 34.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Noble Trading Down 0.0%
NE stock traded down $0.01 during midday trading on Wednesday, reaching $51.25. 1,311,771 shares of the company traded hands, compared to its average volume of 1,964,510. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 35.84 and a beta of 0.94. Noble Corporation PLC has a 52-week low of $22.37 and a 52-week high of $54.57. The business has a 50 day moving average of $48.37 and a 200-day moving average of $38.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99.
Noble (NYSE:NE – Get Free Report) last released its earnings results on Monday, April 27th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $785.69 million for the quarter, compared to the consensus estimate of $730.47 million. Noble had a return on equity of 2.32% and a net margin of 7.17%.The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, sell-side analysts expect that Noble Corporation PLC will post 0.93 earnings per share for the current fiscal year.
Noble Dividend Announcement
Institutional Investors Weigh In On Noble
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in Noble by 424.2% in the 4th quarter. SG Americas Securities LLC now owns 440,342 shares of the company’s stock worth $12,435,000 after acquiring an additional 356,333 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Noble during the fourth quarter valued at approximately $4,902,000. Natixis Advisors LLC purchased a new stake in shares of Noble in the third quarter valued at approximately $3,935,000. Hosking Partners LLP boosted its holdings in shares of Noble by 10.0% in the fourth quarter. Hosking Partners LLP now owns 1,140,328 shares of the company’s stock valued at $32,203,000 after purchasing an additional 103,477 shares during the period. Finally, Sagefield Capital LP grew its stake in Noble by 40.0% in the fourth quarter. Sagefield Capital LP now owns 182,844 shares of the company’s stock worth $5,164,000 after purchasing an additional 52,261 shares in the last quarter. Institutional investors own 68.14% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on NE shares. Evercore set a $59.00 price target on shares of Noble in a report on Monday, April 27th. Weiss Ratings downgraded shares of Noble from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. BTIG Research upped their target price on Noble from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Barclays upgraded Noble from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $50.00 to $56.00 in a report on Thursday, May 7th. Finally, Zacks Research lowered Noble from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.38.
Get Our Latest Stock Report on Noble
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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