Noble Co. PLC (NYSE:NE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.44, but opened at $2.39. Noble shares last traded at $2.34, with a volume of 73439 shares changing hands.
Several research analysts have recently commented on the stock. ValuEngine cut shares of Noble from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Barclays set a $3.00 target price on shares of Noble and gave the stock a “sell” rating in a report on Wednesday, February 20th. Argus cut shares of Noble from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Goldman Sachs Group started coverage on shares of Noble in a report on Sunday, March 10th. They set a “neutral” rating and a $3.50 target price on the stock. Finally, Capital One Financial lowered 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 issued a hold rating and three have issued a buy rating to the company’s stock. Noble currently has a consensus rating of “Hold” and an average target price of $5.58.
The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $575.54 million, a PE ratio of -1.27 and a beta of 2.60.
A number of institutional investors have recently modified their holdings of NE. Capstone Financial Advisors Inc. acquired a new stake in Noble in the fourth quarter valued at approximately $26,000. Creative Planning bought a new position in shares of Noble during the fourth quarter valued at $27,000. Wetherby Asset Management Inc. bought a new position in shares of Noble during the fourth quarter valued at $28,000. Evergreen Capital Management LLC bought a new position in shares of Noble during the first quarter valued at $31,000. Finally, Actinver Wealth Management Inc. bought a new position in shares of Noble during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.
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About Noble (NYSE:NE)
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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