Conning Inc. maintained its stake in Noble Corporation (NYSE:NE) during the second quarter, according to its most recent filing with the SEC. The firm owned 36,370 shares of the oil and gas company’s stock at the end of the second quarter. Conning Inc.’s holdings in Noble Corporation were worth $132,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Creative Planning raised its stake in Noble Corporation by 39.5% in the first quarter. Creative Planning now owns 52,161 shares of the oil and gas company’s stock valued at $323,000 after buying an additional 14,758 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Noble Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,800 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 1,700 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in Noble Corporation during the first quarter valued at about $167,000. Retirement Systems of Alabama raised its stake in Noble Corporation by 0.6% in the first quarter. Retirement Systems of Alabama now owns 315,881 shares of the oil and gas company’s stock valued at $1,955,000 after buying an additional 1,781 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in Noble Corporation by 4.6% in the first quarter. Nationwide Fund Advisors now owns 457,445 shares of the oil and gas company’s stock valued at $2,832,000 after buying an additional 20,231 shares in the last quarter. 96.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Noble Corporation (NYSE:NE) opened at 3.20 on Wednesday. The company’s market capitalization is $783.69 million. Noble Corporation has a 12 month low of $3.15 and a 12 month high of $8.37. The company has a 50-day moving average price of $3.73 and a 200-day moving average price of $4.93.
Noble Corporation (NYSE:NE) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.02. The company had revenue of $278.10 million during the quarter, compared to the consensus estimate of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. Noble Corporation’s revenue was down 68.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share. On average, analysts forecast that Noble Corporation will post ($1.25) EPS for the current fiscal year.
Several research firms recently issued reports on NE. Seaport Global Securities reissued a “neutral” rating on shares of Noble Corporation in a report on Monday, August 7th. Argus reissued a “sell” rating and issued a $6.00 target price on shares of Noble Corporation in a report on Friday, August 18th. Jefferies Group LLC set a $7.00 target price on shares of Noble Corporation and gave the stock a “buy” rating in a report on Saturday, July 1st. Piper Jaffray Companies set a $4.00 target price on shares of Noble Corporation and gave the stock a “hold” rating in a report on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Noble Corporation to a “sell” rating in a report on Wednesday, August 9th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.09.
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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