Noble Corporation (NYSE:NE) Stake Raised by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its position in shares of Noble Corporation (NYSE:NE) by 1.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 86,884 shares of the oil and gas company’s stock after buying an additional 1,500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Noble Corporation were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Noble Corporation by 13,598.2% in the first quarter. BlackRock Inc. now owns 23,547,082 shares of the oil and gas company’s stock valued at $145,756,000 after buying an additional 23,375,183 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Noble Corporation by 57.3% in the first quarter. Dimensional Fund Advisors LP now owns 20,624,594 shares of the oil and gas company’s stock valued at $127,666,000 after buying an additional 7,514,153 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Noble Corporation by 0.9% in the first quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock valued at $124,744,000 after buying an additional 188,754 shares during the last quarter. State Street Corp boosted its stake in shares of Noble Corporation by 24.1% in the first quarter. State Street Corp now owns 17,038,499 shares of the oil and gas company’s stock valued at $105,467,000 after buying an additional 3,303,316 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Noble Corporation by 18.9% in the first quarter. Bank of New York Mellon Corp now owns 5,500,377 shares of the oil and gas company’s stock valued at $34,046,000 after buying an additional 874,434 shares during the last quarter. Hedge funds and other institutional investors own 96.83% of the company’s stock.

Noble Corporation (NYSE:NE) opened at 3.24 on Friday. Noble Corporation has a one year low of $3.15 and a one year high of $8.37. The firm’s market capitalization is $793.49 million. The firm has a 50-day moving average price of $3.75 and a 200 day moving average price of $4.99.

Noble Corporation (NYSE:NE) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The firm had revenue of $278.10 million for the quarter, compared to the consensus estimate of $284.99 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. The business’s quarterly revenue was down 68.9% on a year-over-year basis. Analysts anticipate that Noble Corporation will post ($1.25) EPS for the current fiscal year.

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Several analysts have recently commented on NE shares. Nomura upgraded Noble Corporation from a “reduce” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Thursday, May 18th. 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 note on Tuesday, July 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $10.00 price target on shares of Noble Corporation in a research note on Friday, April 21st. Instinet raised Noble Corporation from a “reduce” rating to a “neutral” rating and upped their price target for the company from $4.35 to $5.00 in a research note on Thursday, May 18th. Finally, Citigroup Inc. lowered Noble Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $11.00 to $4.70 in a research note on Friday, June 16th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Noble Corporation currently has an average rating of “Hold” and an average target price of $6.10.

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.

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

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