Sei Investments Co. lowered its stake in Noble Corporation (NYSE:NE) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 323,859 shares of the oil and gas company’s stock after selling 3,383 shares during the period. Sei Investments Co. owned 0.13% of Noble Corporation worth $2,005,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in NE. Dynamic Capital Management Ltd increased its position in Noble Corporation by 10.9% in the third quarter. Dynamic Capital Management Ltd now owns 374,699 shares of the oil and gas company’s stock valued at $2,376,000 after buying an additional 36,947 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Noble Corporation during the third quarter worth approximately $2,500,000. Russell Investments Group Ltd. acquired a new stake in shares of Noble Corporation during the fourth quarter worth approximately $1,044,000. Comerica Bank increased its stake in shares of Noble Corporation by 6.0% in the fourth quarter. Comerica Bank now owns 200,730 shares of the oil and gas company’s stock worth $1,461,000 after buying an additional 11,432 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Noble Corporation by 57.2% in the fourth quarter. State Street Corp now owns 13,735,183 shares of the oil and gas company’s stock worth $81,317,000 after buying an additional 4,997,584 shares in the last quarter. 98.89% of the stock is owned by institutional investors.
Shares of Noble Corporation (NYSE NE) opened at 3.76 on Friday. The firm’s 50-day moving average is $4.33 and its 200 day moving average is $5.93. Noble Corporation has a 52 week low of $3.65 and a 52 week high of $9.68. The firm’s market capitalization is $920.02 million.
Noble Corporation (NYSE:NE) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. Noble Corporation had a negative net margin of 65.11% and a negative return on equity of 1.69%. The firm had revenue of $363 million for the quarter, compared to analyst estimates of $368.25 million. During the same period in the previous year, the business earned $0.31 EPS. The company’s revenue was down 40.7% compared to the same quarter last year. Equities research analysts forecast that Noble Corporation will post ($1.19) EPS for the current fiscal year.
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A number of brokerages have commented on NE. Seaport Global Securities upgraded Noble Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 7th. Jefferies Group LLC set a $7.00 price objective on Noble Corporation and gave the stock a “buy” rating in a research note on Wednesday, May 24th. BMO Capital Markets set a $5.00 price target on Noble Corporation and gave the stock a “sell” rating in a research note on Tuesday, April 18th. Deutsche Bank AG cut their price target on Noble Corporation from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, April 18th. Finally, Scotiabank reiterated a “hold” rating and issued a $8.00 price target on shares of Noble Corporation in a research note on Wednesday, March 22nd. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Noble Corporation has an average rating of “Hold” and a consensus target price of $7.16.
About Noble Corporation
Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.
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