River & Mercantile Asset Management LLP increased its position in Noble Co. PLC (NYSE:NE) by 61.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,885,147 shares of the oil and gas company’s stock after purchasing an additional 1,101,752 shares during the period. River & Mercantile Asset Management LLP’s holdings in Noble were worth $7,545,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capstone Financial Advisors Inc. bought a new position in shares of Noble in the 4th quarter worth $26,000. Creative Planning bought a new position in shares of Noble in the 4th quarter worth $27,000. Wetherby Asset Management Inc. bought a new position in shares of Noble in the 4th quarter worth $28,000. Private Advisor Group LLC bought a new position in shares of Noble in the 4th quarter worth $41,000. Finally, GSA Capital Partners LLP bought a new position in shares of Noble in the 4th quarter worth $44,000. Institutional investors own 87.65% of the company’s stock.
Several equities analysts have weighed in on the company. ValuEngine cut Noble from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Bank of America cut Noble to a “sell” rating in a research note on Thursday, December 20th. Barclays set a $3.00 price objective on Noble and gave the company a “sell” rating in a research note on Wednesday, February 20th. Argus cut Noble from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Finally, Goldman Sachs Group assumed coverage on Noble in a research note on Sunday, March 10th. They set a “neutral” rating and a $3.50 price objective on the stock. Four investment 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’s stock. The company presently has an average rating of “Hold” and an average target price of $5.58.
Shares of Noble stock traded down $0.02 during trading hours on Monday, hitting $2.94. 841,173 shares of the company’s stock traded hands, compared to its average volume of 4,877,495. Noble Co. PLC has a 12-month low of $2.35 and a 12-month high of $7.44. The firm has a market cap of $733.68 million, a PE ratio of -1.60 and a beta of 2.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.80 and a quick ratio of 1.80.
Noble (NYSE:NE) last announced its earnings results on Wednesday, February 20th. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.05. Noble had a negative return on equity of 9.16% and a negative net margin of 81.74%. The firm had revenue of $309.90 million during the quarter, compared to analyst estimates of $289.04 million. During the same period last year, the firm posted ($0.29) EPS. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Noble Co. PLC will post -1.71 EPS for the current fiscal year.
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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