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Fisher Asset Management LLC Raises Stock Holdings in Noble Co. PLC (NYSE:NE)

By August 30, 2019 No Comments

Fisher Asset Management LLC lifted its stake in Noble Co. PLC (NYSE:NE) by 19.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 713,106 shares of the oil and gas company’s stock after purchasing an additional 118,526 shares during the quarter. Fisher Asset Management LLC owned about 0.29% of Noble worth $1,334,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Noble by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 2,525,513 shares of the oil and gas company’s stock worth $6,616,000 after purchasing an additional 72,524 shares in the last quarter. Bank of America Corp DE grew its position in Noble by 722.2% in the 4th quarter. Bank of America Corp DE now owns 1,539,800 shares of the oil and gas company’s stock valued at $4,035,000 after acquiring an additional 1,352,522 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Noble in the 4th quarter valued at $187,000. Norges Bank bought a new position in Noble in the 4th quarter valued at $9,114,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Noble in the 1st quarter valued at $50,000. 77.76% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NE opened at $1.47 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $326.39 million, a P/E ratio of -0.80 and a beta of 2.51. Noble Co. PLC has a 1-year low of $0.99 and a 1-year high of $7.44. The business has a fifty day moving average price of $1.67 and a 200 day moving average price of $2.30.

Noble (NYSE:NE) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.11. The firm had revenue of $292.90 million during the quarter, compared to analysts’ expectations of $271.59 million. Noble had a negative return on equity of 8.14% and a negative net margin of 28.97%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.49) EPS. As a group, equities research analysts anticipate that Noble Co. PLC will post -1.66 earnings per share for the current fiscal year.

Several equities analysts have commented on NE shares. Bank of America started coverage on Noble in a research report on Monday, June 10th. They issued an “underperform” rating and a $1.25 price objective on the stock. ValuEngine raised Noble from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Noble from a “buy” rating to a “hold” rating and set a $2.25 price objective on the stock. in a research report on Tuesday, June 11th. SEB Equities cut Noble from a “buy” rating to a “sell” rating and lowered their target price for the stock from $2.80 to $1.50 in a report on Tuesday, June 18th. Finally, Barclays set a $3.00 target price on Noble and gave the stock a “sell” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.39.

Noble Profile

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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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Institutional Ownership by Quarter for Noble (NYSE:NE)

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