WealthTrust Axiom LLC lowered its position in Noble Co. PLC (NYSE:NE) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,116 shares of the oil and gas company’s stock after selling 34,555 shares during the period. WealthTrust Axiom LLC’s holdings in Noble were worth $125,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in Noble by 13.4% in the 3rd quarter. California Public Employees Retirement System now owns 699,074 shares of the oil and gas company’s stock worth $888,000 after purchasing an additional 82,400 shares during the period. State of Tennessee Treasury Department boosted its stake in Noble by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 107,588 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 8,458 shares during the period. Rhumbline Advisers boosted its stake in Noble by 7.5% in the 3rd quarter. Rhumbline Advisers now owns 808,585 shares of the oil and gas company’s stock worth $1,027,000 after purchasing an additional 56,428 shares during the period. World Asset Management Inc boosted its stake in Noble by 40.0% in the 3rd quarter. World Asset Management Inc now owns 63,984 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 18,289 shares during the period. Finally, Sippican Capital Advisors boosted its stake in Noble by 2.2% in the 3rd quarter. Sippican Capital Advisors now owns 350,750 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 7,665 shares during the period. Institutional investors and hedge funds own 76.22% of the company’s stock.
In other news, Director Julie H. Edwards bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $1.24 per share, for a total transaction of $31,000.00. Following the purchase, the director now owns 189,302 shares of the company’s stock, valued at approximately $234,734.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
A number of equities analysts have recently commented on the stock. ValuEngine downgraded shares of Noble from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Fearnley Fonds downgraded shares of Noble from a “reduce” rating to a “sell” rating in a research note on Monday, October 21st. Morgan Stanley reduced their price objective on shares of Noble from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Monday, October 7th. Citigroup downgraded shares of Noble from a “neutral” rating to a “sell” rating and set a $1.00 price objective for the company. in a research note on Monday, September 23rd. Finally, Royal Bank of Canada downgraded shares of Noble from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $9.00 to $3.00 in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Noble currently has a consensus rating of “Hold” and an average price target of $2.32.
Shares of Noble stock traded down $0.01 during trading hours on Friday, reaching $1.30. 2,770,222 shares of the company’s stock were exchanged, compared to its average volume of 5,099,905. The company has a 50 day moving average of $1.37 and a two-hundred day moving average of $1.78. Noble Co. PLC has a fifty-two week low of $0.99 and a fifty-two week high of $4.75. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.96. The stock has a market cap of $320.22 million, a P/E ratio of -0.71 and a beta of 2.52.
Noble (NYSE:NE) last issued its earnings results on Wednesday, October 30th. The oil and gas company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.07. Noble had a negative net margin of 60.35% and a negative return on equity of 8.76%. The business had revenue of $275.53 million during the quarter, compared to the consensus estimate of $260.72 million. During the same period last year, the business posted ($0.43) EPS. Noble’s revenue was down 1.4% on a year-over-year basis. As a group, analysts expect that Noble Co. PLC will post -1.66 earnings per share for the current fiscal year.
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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