Noble Corporation (NE) Position Trimmed by Nationwide Fund Advisors

Nationwide Fund Advisors reduced its stake in Noble Corporation (NYSE:NE) by 59.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,660 shares of the oil and gas company’s stock after selling 272,785 shares during the quarter. Nationwide Fund Advisors owned about 0.08% of Noble Corporation worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 2,816 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Noble Corporation in the first quarter valued at approximately $139,000. Founders Capital Management raised its stake in Noble Corporation by 95.9% in the second quarter. Founders Capital Management now owns 30,270 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 14,820 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in Noble Corporation by 126.1% in the first quarter. Tudor Investment Corp ET AL now owns 30,300 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 16,900 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Noble Corporation by 109.3% in 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 in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of Noble Corporation (NYSE:NE) opened at 4.10 on Tuesday. The company has a 50-day moving average price of $4.08 and a 200-day moving average price of $4.03. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $8.37. The stock’s market cap is $1.00 billion.

Noble Corporation (NYSE:NE) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. The company had revenue of $278.10 million for 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 quarterly revenue was down 68.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. Equities analysts anticipate that Noble Corporation will post ($1.23) EPS for the current year.

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NE has been the topic of a number of recent analyst reports. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $2.85 target price on shares of Noble Corporation in a research note on Sunday, October 22nd. Deutsche Bank AG initiated coverage on shares of Noble Corporation in a research note on Tuesday, October 10th. They issued a “hold” rating and a $4.00 target price on the stock. Royal Bank Of Canada set a $5.00 target price on shares of Noble Corporation and gave the company a “hold” rating in a research note on Saturday, October 7th. Cowen and Company set a $3.00 target price on shares of Noble Corporation and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, UBS AG raised shares of Noble Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.00 to $6.00 in a research note on Monday, September 25th. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.56.

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

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