Noble Corporation (NE) Holdings Lifted by Sippican Capital Advisors

Sippican Capital Advisors raised its holdings in shares of Noble Corporation (NYSE:NE) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,234 shares of the oil and gas company’s stock after purchasing an additional 30,464 shares during the period. Sippican Capital Advisors owned 0.11% of Noble Corporation worth $1,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NE. Ameriprise Financial Inc. raised its position in Noble Corporation by 7.0% during the 1st quarter. Ameriprise Financial Inc. now owns 679,702 shares of the oil and gas company’s stock valued at $4,206,000 after purchasing an additional 44,544 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Noble Corporation by 54.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 417,057 shares of the oil and gas company’s stock valued at $2,582,000 after purchasing an additional 146,847 shares during the last quarter. Principal Financial Group Inc. raised its position in Noble Corporation by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 998,007 shares of the oil and gas company’s stock valued at $6,178,000 after purchasing an additional 31,058 shares during the last quarter. FMR LLC raised its position in Noble Corporation by 197.4% during the 1st quarter. FMR LLC now owns 984,300 shares of the oil and gas company’s stock valued at $6,093,000 after purchasing an additional 653,300 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Noble Corporation by 8.9% during the 1st quarter. Teachers Advisors LLC now owns 281,419 shares of the oil and gas company’s stock valued at $1,742,000 after purchasing an additional 23,067 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Shares of Noble Corporation (NYSE NE) traded up 0.96% during mid-day trading on Wednesday, reaching $4.20. The company’s stock had a trading volume of 3,590,688 shares. The firm’s market cap is $1.03 billion. Noble Corporation has a one year low of $3.14 and a one year high of $8.37. The firm’s 50 day moving average is $4.10 and its 200 day moving average is $4.03.

Noble Corporation (NYSE:NE) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. The business 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%. The business’s quarterly revenue was down 68.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. On average, equities analysts anticipate that Noble Corporation will post ($1.23) earnings per share for the current fiscal year.

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A number of research analysts have commented on NE shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.50 price target (down previously from $7.00) on shares of Noble Corporation in a research report on Tuesday, July 18th. Sanford C. Bernstein lowered Noble Corporation from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $7.00 to $2.50 in a research report on Thursday, July 6th. ValuEngine raised Noble Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “sell” rating and set a $5.00 price target on shares of Noble Corporation in a research report on Thursday, July 20th. Finally, Deutsche Bank AG started coverage on Noble Corporation in a research report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the stock. Noble Corporation currently has an average rating of “Hold” and a consensus target price of $5.56.

About Noble Corporation

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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