Noble Co. (NYSE:NE) was the recipient of a significant increase in short interest during the month of December. As of December 29th, there was short interest totalling 53,143,362 shares, an increase of 33.8% from the December 15th total of 39,730,290 shares. Based on an average trading volume of 8,334,384 shares, the days-to-cover ratio is currently 6.4 days. Currently, 22.0% of the shares of the company are short sold.

Shares of Noble (NE) opened at $5.10 on Friday. The company has a market cap of $1,220.00, a P/E ratio of -0.70 and a beta of 2.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58. Noble has a 52 week low of $3.14 and a 52 week high of $7.76.

Noble (NYSE:NE) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.36). The company had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $269.61 million. Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. Noble’s revenue was down 30.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) EPS. research analysts predict that Noble will post -1.18 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in Noble during the 3rd quarter worth approximately $102,000. Pinebridge Investments L.P. bought a new stake in Noble during the 2nd quarter worth approximately $117,000. BlueCrest Capital Management Ltd increased its holdings in Noble by 179.0% during the 2nd 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 period. Sanders Morris Harris LLC bought a new stake in Noble during the 3rd quarter worth approximately $161,000. Finally, ProShare Advisors LLC increased its holdings in Noble by 9.1% during the 2nd 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 period. Institutional investors own 86.98% of the company’s stock.

A number of research analysts have weighed in on the stock. Cowen set a $5.00 target price on shares of 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 shares of Noble and gave the company a “hold” rating in a research note on Friday, January 12th. UBS Group upgraded shares of Noble from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.00 to $6.00 in a research note on Monday, September 25th. Finally, ValuEngine cut shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.41.

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Noble 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.

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