Dimensional Fund Advisors LP Reduces Holdings in Noble Corporation (NE)

Dimensional Fund Advisors LP cut its position in Noble Corporation (NYSE:NE) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,885,196 shares of the oil and gas company’s stock after selling 1,739,398 shares during the quarter. Dimensional Fund Advisors LP owned 7.72% of Noble Corporation worth $68,366,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Noble Corporation by 0.9% during the first quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock worth $124,744,000 after acquiring an additional 188,754 shares during the last quarter. UBS Group AG raised its position in shares of Noble Corporation by 3.1% during the first quarter. UBS Group AG now owns 225,672 shares of the oil and gas company’s stock worth $1,397,000 after acquiring an additional 6,767 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of Noble Corporation by 1.8% during the first quarter. Mason Street Advisors LLC now owns 115,589 shares of the oil and gas company’s stock worth $715,000 after acquiring an additional 2,067 shares during the last quarter. Credit Suisse AG raised its position in shares of Noble Corporation by 326.2% during the first quarter. Credit Suisse AG now owns 915,197 shares of the oil and gas company’s stock worth $5,666,000 after acquiring an additional 700,438 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Noble Corporation by 112.0% during the second quarter. SG Americas Securities LLC now owns 330,546 shares of the oil and gas company’s stock worth $1,197,000 after acquiring an additional 174,656 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Shares of Noble Corporation (NE) opened at 3.83 on Thursday. The firm has a 50 day moving average price of $3.90 and a 200 day moving average price of $4.25. The company’s market capitalization is $937.98 million. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $8.37.

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, beating the consensus estimate of ($0.33) by $0.02. The firm had revenue of $278.10 million for the quarter, compared to analysts’ expectations of $284.99 million. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The company’s revenue was down 68.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. Equities analysts forecast that Noble Corporation will post ($1.25) EPS for the current year.

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A number of equities analysts have recently issued reports on NE shares. Jefferies Group LLC restated a “buy” rating and set a $5.50 price objective (down from $7.00) on shares of Noble Corporation in a research report on Tuesday, July 18th. Citigroup Inc. cut Noble Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $4.70 in a research note on Friday, June 16th. Sanford C. Bernstein cut Noble Corporation from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $7.00 to $2.50 in a research note on Thursday, July 6th. Bank of America Corporation cut Noble Corporation from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $7.00 to $2.00 in a research note on Friday, June 30th. Finally, ValuEngine raised Noble Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.67.

Noble Corporation 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.

Institutional Ownership by Quarter for Noble Corporation (NYSE:NE)

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