Noble Co. PLC (NYSE:NE) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Noble Co. PLC (NYSE:NE) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,525,513 shares of the oil and gas company’s stock after buying an additional 72,524 shares during the period. Geode Capital Management LLC owned 1.02% of Noble worth $6,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NE. Van ECK Associates Corp boosted its stake in Noble by 62.6% during the 4th quarter. Van ECK Associates Corp now owns 4,721,182 shares of the oil and gas company’s stock valued at $12,369,000 after purchasing an additional 1,817,440 shares during the last quarter. Morgan Stanley boosted its stake in Noble by 184.6% during the 3rd quarter. Morgan Stanley now owns 2,274,306 shares of the oil and gas company’s stock valued at $15,988,000 after purchasing an additional 1,475,122 shares during the last quarter. BlackRock Inc. boosted its stake in Noble by 2.5% during the 4th quarter. BlackRock Inc. now owns 39,364,645 shares of the oil and gas company’s stock valued at $103,134,000 after purchasing an additional 970,599 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Noble by 77.9% during the 4th quarter. WINTON GROUP Ltd now owns 1,404,595 shares of the oil and gas company’s stock valued at $3,680,000 after purchasing an additional 614,921 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Noble by 44.2% during the 4th quarter. New York State Common Retirement Fund now owns 1,905,017 shares of the oil and gas company’s stock valued at $4,991,000 after purchasing an additional 583,773 shares during the last quarter. Institutional investors own 87.65% of the company’s stock.

A number of equities analysts have issued reports on the company. 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 shares of Noble and gave the stock a “sell” rating in a research report on Wednesday, February 20th. Argus cut shares of Noble from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Goldman Sachs Group began coverage on shares of Noble in a research report on Sunday, March 10th. They set a “neutral” rating and a $3.50 target price on the stock. Finally, Capital One Financial cut shares of Noble from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.58.

Shares of NYSE:NE traded down $0.11 during mid-day trading on Friday, reaching $2.51. The company had a trading volume of 7,161,513 shares, compared to its average volume of 6,242,136. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $652.79 million, a PE ratio of -1.36 and a beta of 2.60. Noble Co. PLC has a one year low of $2.35 and a one year high of $7.44.

Noble (NYSE:NE) last issued its earnings results on Wednesday, May 1st. The oil and gas company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. Noble had a negative net margin of 71.96% and a negative return on equity of 8.75%. The business had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $273.22 million. During the same quarter in the previous year, the firm posted ($0.55) EPS. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. Research analysts predict that Noble Co. PLC will post -1.72 earnings per share for the current year.

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About Noble

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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Institutional Ownership by Quarter for Noble (NYSE:NE)

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