Noble Co. (NYSE:NE) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for Noble in a research report issued to clients and investors on Wednesday. Jefferies Group analyst E. Royes now forecasts that the oil and gas company will earn ($1.12) per share for the year, up from their prior forecast of ($1.13). Jefferies Group currently has a “Buy” rating and a $6.00 price target on the stock. Jefferies Group also issued estimates for Noble’s Q4 2017 earnings at ($0.30) EPS, FY2018 earnings at ($1.60) EPS, FY2019 earnings at ($1.75) EPS and FY2020 earnings at ($1.10) EPS.

NE has been the subject of several other reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $2.85 price target on shares of Noble in a report on Sunday, October 22nd. Royal Bank of Canada set a $5.00 price target on Noble and gave the company a “hold” rating in a report on Thursday, December 21st. ValuEngine downgraded Noble from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Cowen set a $3.00 price target on Noble and gave the company a “hold” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research downgraded Noble from a “hold” rating to a “sell” rating in a report on Tuesday, January 16th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $5.24.

Noble (NYSE:NE) opened at $3.96 on Friday. 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 $987.22, a price-to-earnings ratio of -0.54 and a beta of 2.22. Noble has a twelve month low of $3.14 and a twelve month high of $7.76.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Noble by 7.5% in the 4th quarter. BlackRock Inc. now owns 35,152,960 shares of the oil and gas company’s stock valued at $158,891,000 after purchasing an additional 2,459,833 shares in the last quarter. Vanguard Group Inc. increased its holdings in Noble by 16.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after purchasing an additional 3,371,015 shares in the last quarter. State Street Corp increased its holdings in Noble by 31.7% in the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after purchasing an additional 5,405,697 shares in the last quarter. Contrarius Investment Management Ltd increased its holdings in Noble by 21.7% in the 3rd 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 purchasing an additional 1,184,494 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Noble by 33.8% in the 2nd quarter. Northern Trust Corp now owns 3,337,639 shares of the oil and gas company’s stock valued at $12,082,000 after purchasing an additional 843,007 shares in the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.

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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.

Earnings History and Estimates for Noble (NYSE:NE)

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