Noble Corporation (NE) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in shares of Noble Corporation (NYSE:NE) by 48.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,132 shares of the oil and gas company’s stock after selling 161,414 shares during the period. SG Americas Securities LLC owned about 0.07% of Noble worth $778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinebridge Investments L.P. acquired a new position in shares of Noble during the second quarter valued at $117,000. Nisa Investment Advisors LLC increased its holdings in shares of Noble by 109.3% during the second quarter. Nisa Investment Advisors LLC now owns 31,400 shares of the oil and gas company’s stock valued at $125,000 after purchasing an additional 16,400 shares during the period. BlueCrest Capital Management Ltd increased its holdings in shares of Noble by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 27,365 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Noble during the third quarter valued at $161,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Noble during the second quarter valued at $174,000. 87.10% of the stock is currently owned by hedge funds and other institutional investors.

Noble Corporation (NE) traded down $0.18 on Friday, hitting $3.91. The stock had a trading volume of 6,494,200 shares, compared to its average volume of 10,091,459. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $7.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.

Noble (NYSE:NE) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.36). Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. During the same period last year, the business earned ($0.23) EPS. The business’s quarterly revenue was down 30.9% on a year-over-year basis. research analysts forecast that Noble Corporation will post -1.17 EPS for the current fiscal year.

A number of brokerages have recently commented on NE. ValuEngine lowered Noble from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Royal Bank of Canada set a $5.00 price target on Noble and gave the company a “hold” rating in a report on Sunday, November 12th. Zacks Investment Research cut Noble from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $2.85 target price on shares of Noble in a research note on Sunday, October 22nd. Finally, Cowen set a $3.00 target price on Noble and gave the company a “hold” rating in a research note on Wednesday, October 18th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Noble presently has an average rating of “Hold” and a consensus target price of $5.56.

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About Noble

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.

Institutional Ownership by Quarter for Noble (NYSE:NE)

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