California State Teachers Retirement System Increases Stake in Noble Co. (NE)

California State Teachers Retirement System increased its position in shares of Noble Co. (NYSE:NE) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 444,840 shares of the oil and gas company’s stock after buying an additional 12,067 shares during the period. California State Teachers Retirement System owned about 0.18% of Noble worth $2,046,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Noble by 37.6% during the second quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after buying an additional 8,843,373 shares during the period. Vanguard Group Inc. increased its stake in shares of Noble by 16.7% during the second quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after buying an additional 3,371,015 shares during the period. State Street Corp increased its stake in shares of 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 valued at $81,248,000 after buying an additional 5,405,697 shares during the period. Contrarius Investment Management Ltd increased its stake in shares of Noble by 21.7% during the third quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock valued at $30,504,000 after buying an additional 1,184,494 shares during the period. Finally, Northern Trust Corp increased its stake in shares of 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 valued at $12,082,000 after buying an additional 843,007 shares during the period. Hedge funds and other institutional investors own 86.98% of the company’s stock.

Shares of Noble Co. (NE) opened at $5.38 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1,410.00, a PE ratio of -0.74 and a beta of 2.34. Noble Co. has a twelve month low of $3.14 and a twelve month high of $7.76.

Noble (NYSE:NE) last issued its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, hitting the consensus estimate of ($0.36). The business had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The company’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) earnings per share. sell-side analysts forecast that Noble Co. will post -1.18 EPS for the current year.

Several brokerages have recently commented on NE. Cowen set a $5.00 price target on Noble and gave the company a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies reiterated an “underweight” rating on shares of Noble in a research note on Thursday, January 11th. Susquehanna Bancshares set a $5.00 target price on Noble and gave the company a “hold” rating in a research note on Friday, January 12th. UBS Group upgraded Noble from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.00 to $6.00 in a research note on Monday, September 25th. Finally, Zacks Investment Research lowered Noble from a “hold” rating to a “sell” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company. Noble currently has a consensus rating of “Hold” and a consensus price target of $5.41.

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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.

Institutional Ownership by Quarter for Noble (NYSE:NE)

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