Royal Bank of Canada set a $5.00 price target on Noble (NYSE:NE) in a report published on Thursday. The brokerage currently has a hold rating on the oil and gas company’s stock.

Several other equities research analysts have also commented on NE. Cowen reiterated a hold rating and set a $3.00 price target on shares of Noble in a research note on Tuesday, September 5th. Deutsche Bank assumed coverage on shares of Noble in a research note on Tuesday, October 10th. They set a hold rating and a $4.00 price target on the stock. UBS Group upgraded shares of Noble from a neutral rating to a buy rating and lifted their price objective for the company from $4.00 to $6.00 in a research note on Monday, September 25th. assumed coverage on shares of Noble in a research note on Thursday, October 19th. They issued a buy rating and a $5.30 price objective on the stock. Finally, ValuEngine lowered shares of Noble from a sell rating to a strong sell rating in a research note on Friday, December 1st. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $5.62.

Noble (NE) opened at $4.23 on Thursday. 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 has a 1 year low of $3.14 and a 1 year high of $7.80. The company has a market cap of $1,021.51, a P/E ratio of -0.57 and a beta of 2.34.

Noble (NYSE:NE) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. During the same period last year, the business earned ($0.23) EPS. The company’s revenue was down 30.9% on a year-over-year basis. equities research analysts forecast that Noble will post -1.17 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in NE. Cubist Systematic Strategies LLC purchased a new stake in Noble during the third quarter worth about $102,000. Pinebridge Investments L.P. acquired a new position in Noble during the second quarter worth about $117,000. BlueCrest Capital Management Ltd raised its position in Noble by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock worth $154,000 after acquiring an additional 27,365 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in Noble during the third quarter worth about $161,000. Finally, ProShare Advisors LLC raised its position in Noble by 9.1% during the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock worth $176,000 after acquiring an additional 4,047 shares during the last quarter. 86.80% of the stock is currently owned by hedge funds and other institutional investors.

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About Noble

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.

Analyst Recommendations for Noble (NYSE:NE)

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