First Quadrant L P CA Sells 735,729 Shares of Noble Corporation (NE)

First Quadrant L P CA decreased its position in Noble Corporation (NYSE:NE) by 53.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 643,746 shares of the oil and gas company’s stock after selling 735,729 shares during the period. First Quadrant L P CA’s holdings in Noble Corporation were worth $2,330,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NE. Russell Investments Group Ltd. raised its position in shares of Noble Corporation by 323.4% in the first quarter. Russell Investments Group Ltd. now owns 726,384 shares of the oil and gas company’s stock valued at $4,498,000 after buying an additional 554,833 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Noble Corporation by 3.2% in the first quarter. BNP Paribas Arbitrage SA now owns 165,062 shares of the oil and gas company’s stock valued at $1,022,000 after buying an additional 5,163 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Noble Corporation by 19.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 23,166 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 3,803 shares during the period. LMR Partners LLP purchased a new position in shares of Noble Corporation during the first quarter valued at approximately $514,000. Finally, Segantii Capital Management Ltd purchased a new position in shares of Noble Corporation during the first quarter valued at approximately $197,000. 99.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of Noble Corporation (NYSE NE) opened at 3.97 on Tuesday. Noble Corporation has a 12-month low of $3.32 and a 12-month high of $8.37. The company’s market cap is $971.40 million. The firm has a 50 day moving average price of $3.83 and a 200-day moving average price of $5.44.

Noble Corporation (NYSE:NE) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. Noble Corporation had a negative return on equity of 1.69% and a negative net margin of 65.11%. The firm had revenue of $363 million during the quarter, compared to analyst estimates of $368.25 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue for the quarter was down 40.7% compared to the same quarter last year. On average, equities analysts expect that Noble Corporation will post ($1.21) earnings per share for the current fiscal year.

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NE has been the topic of several recent research reports. Jefferies Group LLC reiterated a “buy” rating and set a $9.50 price objective on shares of Noble Corporation in a research report on Friday, April 7th. Deutsche Bank AG reduced their price objective on Noble Corporation from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, April 18th. BMO Capital Markets set a $5.00 price objective on Noble Corporation and gave the company a “sell” rating in a research report on Tuesday, April 18th. Credit Suisse Group reiterated a “buy” rating and set a $10.00 price objective on shares of Noble Corporation in a research report on Friday, April 21st. Finally, Barclays PLC reduced their price objective on Noble Corporation from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, May 1st. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Noble Corporation currently has an average rating of “Hold” and an average target price of $6.23.

Noble Corporation Company 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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