California Public Employees Retirement System boosted its holdings in Noble Corporation (NYSE:NE) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,470,919 shares of the oil and gas company’s stock after purchasing an additional 11,000 shares during the quarter. California Public Employees Retirement System owned approximately 0.60% of Noble Corporation worth $5,325,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Noble Corporation by 0.9% in the first quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock worth $124,744,000 after purchasing an additional 188,754 shares during the period. UBS Group AG boosted its holdings in Noble Corporation by 3.1% in the first quarter. UBS Group AG now owns 225,672 shares of the oil and gas company’s stock worth $1,397,000 after purchasing an additional 6,767 shares during the period. Credit Suisse AG boosted its holdings in Noble Corporation by 326.2% in the first quarter. Credit Suisse AG now owns 915,197 shares of the oil and gas company’s stock worth $5,666,000 after purchasing an additional 700,438 shares during the period. SG Americas Securities LLC boosted its holdings in Noble Corporation by 112.0% in the second quarter. SG Americas Securities LLC now owns 330,546 shares of the oil and gas company’s stock worth $1,197,000 after purchasing an additional 174,656 shares during the period. Finally, River & Mercantile Asset Management LLP boosted its holdings in Noble Corporation by 15.0% in the second quarter. River & Mercantile Asset Management LLP now owns 1,132,617 shares of the oil and gas company’s stock worth $4,094,000 after purchasing an additional 147,797 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.
Shares of Noble Corporation (NYSE:NE) opened at 4.05 on Wednesday. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $8.37. The company’s 50 day moving average is $3.95 and its 200-day moving average is $4.20. The company’s market capitalization is $991.86 million.
Noble Corporation (NYSE:NE) last announced its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.02. The company had revenue of $278.10 million for the quarter, compared to analysts’ expectations of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The business’s revenue for the quarter was down 68.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, analysts expect that Noble Corporation will post ($1.24) EPS for the current fiscal year.
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A number of research firms have commented on NE. Jefferies Group LLC set a $7.00 price objective on shares of Noble Corporation and gave the stock a “buy” rating in a report on Saturday, July 1st. Argus reaffirmed a “sell” rating and issued a $6.00 price objective on shares of Noble Corporation in a report on Friday, August 18th. Goldman Sachs Group, Inc. (The) raised shares of Noble Corporation to a “sell” rating in a report on Wednesday, August 9th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Noble Corporation in a report on Monday, August 7th. Finally, Sanford C. Bernstein downgraded shares of Noble Corporation from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $7.00 to $2.50 in a report on Thursday, July 6th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.67.
Noble Corporation Profile
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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