Sippican Capital Advisors raised its position in Noble Co. PLC (NYSE:NE) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 303,195 shares of the oil and gas company’s stock after buying an additional 42,665 shares during the period. Sippican Capital Advisors owned 0.12% of Noble worth $870,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NE. Capstone Financial Advisors Inc. acquired a new stake in Noble in the fourth quarter valued at $26,000. Creative Planning purchased a new position in Noble during the 4th quarter valued at $27,000. Wetherby Asset Management Inc. purchased a new stake in shares of Noble in the 4th quarter worth $28,000. Actinver Wealth Management Inc. bought a new position in shares of Noble in the 4th quarter worth $36,000. Finally, Private Advisor Group LLC acquired a new position in Noble during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Noble from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. ValuEngine downgraded Noble from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Barclays set a $3.00 target price on Noble and gave the stock a “sell” rating in a research note on Wednesday, February 20th. Goldman Sachs Group assumed coverage on Noble in a research note on Sunday, March 10th. They issued a “neutral” rating and a $3.50 target price on the stock. Finally, Credit Suisse Group set a $4.00 target price on Noble and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.58.
Shares of Noble stock traded down $0.01 on Wednesday, hitting $2.83. The company had a trading volume of 55,337 shares, compared to its average volume of 4,624,513. The stock has a market capitalization of $706.31 million, a PE ratio of -1.57 and a beta of 2.67. Noble Co. PLC has a twelve month low of $2.35 and a twelve month high of $7.44. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.83.
Noble (NYSE:NE) last issued its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported ($0.36) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.05. Noble had a negative net margin of 81.74% and a negative return on equity of 9.16%. The company had revenue of $309.90 million for the quarter, compared to analyst estimates of $289.04 million. During the same period in the prior year, the firm earned ($0.29) earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. Equities analysts anticipate that Noble Co. PLC will post -1.71 EPS 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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.
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