Russell Investments Group Ltd. Purchases 38,761 Shares of Noble Corporation (NE)

Russell Investments Group Ltd. grew its position in shares of Noble Corporation (NYSE:NE) by 13.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,105 shares of the oil and gas company’s stock after acquiring an additional 38,761 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Noble worth $1,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NE. BNP Paribas Arbitrage SA grew its holdings in Noble by 23.0% during the third quarter. BNP Paribas Arbitrage SA now owns 268,117 shares of the oil and gas company’s stock worth $1,233,000 after buying an additional 50,085 shares in the last quarter. Northern Trust Corp grew its holdings in Noble by 33.8% during the second quarter. Northern Trust Corp now owns 3,337,639 shares of the oil and gas company’s stock worth $12,082,000 after buying an additional 843,007 shares in the last quarter. State Street Corp grew its holdings in Noble by 31.7% during the second quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock worth $81,248,000 after buying an additional 5,405,697 shares in the last quarter. River & Mercantile Asset Management LLP grew its holdings in Noble by 15.0% during the second quarter. River & Mercantile Asset Management LLP now owns 1,132,617 shares of the oil and gas company’s stock worth $4,094,000 after buying an additional 147,797 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Noble 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 buying an additional 174,656 shares in the last quarter. Hedge funds and other institutional investors own 86.80% of the company’s stock.

Noble Corporation (NYSE NE) opened at $4.23 on Tuesday. 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 Corporation has a 1 year low of $3.14 and a 1 year high of $7.80. The firm has a market capitalization of $1,036.21, a price-to-earnings ratio of -0.57 and a beta of 2.34.

Noble (NYSE:NE) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.36). Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The business had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $269.61 million. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The business’s revenue was down 30.9% on a year-over-year basis. equities analysts expect that Noble Corporation will post -1.18 EPS for the current year.

Several brokerages recently issued reports on NE. Royal Bank of Canada set a $5.00 price target on Noble and gave the stock a “hold” rating in a report on Sunday, November 12th. ValuEngine downgraded Noble from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. UBS Group upgraded Noble from a “neutral” rating to a “buy” rating and upped their price target for the stock from $4.00 to $6.00 in a report on Monday, September 25th. Zacks Investment Research upgraded Noble from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Wednesday, October 18th. Finally, Deutsche Bank began coverage on Noble in a report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price target for the company. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.62.

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Noble 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 (NYSE:NE)

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