Noble Co. (NE) Short Interest Update
Noble Co. (NYSE:NE) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 46,911,018 shares, a decrease of 16.4% from the January 12th total of 56,142,043 shares. Approximately 19.4% of the shares of the company are sold short. Based on an average daily volume of 8,811,594 shares, the short-interest ratio is currently 5.3 days.
A number of hedge funds have recently modified their holdings of NE. BlackRock Inc. grew its position in shares of Noble by 37.6% during the second quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after purchasing an additional 8,843,373 shares in the last quarter. State Street Corp grew its position in shares of Noble by 31.7% during the second 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. Renaissance Technologies LLC grew its position in shares of Noble by 141.6% during the fourth quarter. Renaissance Technologies LLC now owns 6,666,800 shares of the oil and gas company’s stock valued at $30,134,000 after purchasing an additional 3,906,800 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Noble by 16.7% during the second 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. Finally, SG Capital Management LLC purchased a new position in shares of Noble during the third quarter valued at about $9,696,000. Institutional investors and hedge funds own 85.57% of the company’s stock.
Shares of Noble (NYSE:NE) traded up $0.03 during mid-day trading on Wednesday, reaching $3.95. The company’s stock had a trading volume of 7,250,000 shares, compared to its average volume of 8,690,000. Noble has a 1-year low of $3.14 and a 1-year high of $7.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market cap of $960.27, a price-to-earnings ratio of -0.54 and a beta of 2.22.
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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