Russell Investments Group Ltd. Raises Stake in Noble Co. PLC (NE)

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Russell Investments Group Ltd. increased its position in shares of Noble Co. PLC (NYSE:NE) by 213.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 285,315 shares of the oil and gas company’s stock after acquiring an additional 194,299 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Noble worth $1,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Zeke Capital Advisors LLC lifted its stake in shares of Noble by 76.0% during the first quarter. Zeke Capital Advisors LLC now owns 27,118 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 11,711 shares during the period. Rhumbline Advisers lifted its stake in shares of Noble by 2.3% during the first quarter. Rhumbline Advisers now owns 581,905 shares of the oil and gas company’s stock valued at $2,159,000 after acquiring an additional 13,251 shares during the period. Swiss National Bank lifted its stake in Noble by 6.0% in the first quarter. Swiss National Bank now owns 426,098 shares of the oil and gas company’s stock valued at $1,581,000 after buying an additional 24,200 shares during the period. Matarin Capital Management LLC acquired a new position in Noble in the first quarter valued at about $118,000. Finally, Great West Life Assurance Co. Can lifted its stake in Noble by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 432,326 shares of the oil and gas company’s stock valued at $1,601,000 after buying an additional 32,336 shares during the period. 84.42% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on NE. Citigroup increased their target price on Noble from $4.70 to $5.90 and gave the company a “neutral” rating in a research note on Thursday, June 21st. Jefferies Financial Group lowered Noble from a “buy” rating to a “hold” rating and set a $5.00 target price on the stock. in a research note on Thursday, June 21st. ValuEngine raised Noble from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Sanford C. Bernstein raised Noble from an “underperform” rating to a “market perform” rating and set a $5.00 target price on the stock in a research note on Tuesday, June 5th. Finally, Credit Suisse Group lowered Noble from an “outperform” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Wednesday, May 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $4.78.

Shares of Noble traded down $0.06, reaching $6.45, during mid-day trading on Friday, according to MarketBeat.com. 4,045,960 shares of the company’s stock were exchanged, compared to its average volume of 5,498,353. The firm has a market cap of $1.59 billion, a P/E ratio of -5.66 and a beta of 2.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.45 and a quick ratio of 2.45. Noble Co. PLC has a twelve month low of $3.14 and a twelve month high of $6.84.

Noble (NYSE:NE) last released its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported ($0.55) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.02. The company had revenue of $235.16 million for the quarter, compared to analyst estimates of $228.45 million. Noble had a negative return on equity of 6.29% and a negative net margin of 32.20%. Noble’s revenue was down 35.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) earnings per share. equities analysts anticipate that Noble Co. PLC will post -1.88 EPS for the current year.

About Noble

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

Institutional Ownership by Quarter for Noble (NYSE:NE)

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