Worth Watching: What’s Ahead for Noble Corporation Ordinary Shares (UK) After Today’s Huge Decline?

Worth Watching: What's Ahead for Noble Corporation Ordinary Shares (UK) After Today's Huge Decline?

The stock of Noble Corporation Ordinary Shares (UK) (NYSE:NE) is a huge mover today! The stock decreased 6.97% or $0.35 on November 4, hitting $4.67. About 18.09 million shares traded hands or 50.25% up from the average. Noble Corporation Ordinary Shares (UK) (NYSE:NE) has declined 47.82% since April 4, 2016 and is downtrending. It has underperformed by 48.91% the S&P500.
The move comes after 7 months negative chart setup for the $1.22B company. It was reported on Nov, 4 by Barchart.com. We have $4.30 PT which if reached, will make NYSE:NE worth $97.60M less.

Noble Corporation Ordinary Shares (UK) (NYSE:NE) Ratings Coverage

Out of 23 analysts covering Noble Corp PLC (NYSE:NE), 5 rate it a “Buy”, 5 “Sell”, while 13 “Hold”. This means 22% are positive. Noble Corp PLC has been the topic of 46 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Monday, October 3 by Societe Generale. The firm earned “Neutral” rating on Thursday, August 25 by Citigroup. The firm earned “Neutral” rating on Friday, October 7 by Seaport Global Securities. The rating was downgraded by Piper Jaffray to “Underweight” on Friday, March 11. The company was downgraded on Monday, March 7 by Stephens. Societe Generale upgraded Noble Corporation Ordinary Shares (UK) (NYSE:NE) on Tuesday, January 19 to “Buy” rating. The firm earned “Buy” rating on Friday, August 21 by Global Hunter Securities. The stock of Noble Corporation Ordinary Shares (UK) (NYSE:NE) has “Neutral” rating given on Wednesday, March 16 by Citigroup. Cowen & Co downgraded Noble Corporation Ordinary Shares (UK) (NYSE:NE) rating on Monday, January 11. Cowen & Co has “Market Perform” rating and $10 price target. As per Wednesday, September 14, the company rating was initiated by Howard Weil.

According to Zacks Investment Research, “Noble Corporation PLC is an offshore drilling contractor for the oil and gas industry. The company offers services for drilling and work over activities and undertakes refurbishment projects for rigs. It provides services primarily in the U.S. Gulf of Mexico and Alaska, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India, Malaysia and Australia. Noble Corporation PLC, formerly known as Noble Corp., is based in London, United Kingdom.”

Insitutional Activity: The institutional sentiment increased to 1.08 in 2016 Q2. Its up 0.12, from 0.96 in 2016Q1. The ratio increased, as 39 funds sold all Noble Corporation Ordinary Shares (UK) shares owned while 103 reduced positions. 36 funds bought stakes while 117 increased positions. They now own 211.70 million shares or 16.81% less from 254.48 million shares in 2016Q1.
Louisiana State Employees Retirement holds 0.03% or 64,700 shares in its portfolio. Ubs Oconnor Lc accumulated 0% or 296,088 shares. Cornerstone Cap Mgmt Liability owns 659,973 shares or 0.04% of their US portfolio. Bridgewater Assocs Lp has invested 0.23% of its portfolio in Noble Corporation Ordinary Shares (UK) (NYSE:NE). The Connecticut-based Trexquant Invest Ltd Partnership has invested 0.12% in Noble Corporation Ordinary Shares (UK) (NYSE:NE). Conning Inc last reported 36,540 shares in the company. Liberty Mutual Asset Mngmt accumulated 105,577 shares or 0.03% of the stock. The Minnesota-based Advantus Capital has invested 0.01% in Noble Corporation Ordinary Shares (UK) (NYSE:NE). Qcm Cayman Limited holds 0.11% of its portfolio in Noble Corporation Ordinary Shares (UK) (NYSE:NE) for 30,469 shares. The New York-based New York State Teachers Retirement has invested 0.01% in Noble Corporation Ordinary Shares (UK) (NYSE:NE). Ibm Retirement Fund holds 0.01% of its portfolio in Noble Corporation Ordinary Shares (UK) (NYSE:NE) for 24,435 shares. Jefferies Grp Inc Ltd Co has 77,264 shares for 0% of their US portfolio. Mutual Of America Cap accumulated 0.03% or 175,485 shares. Capstone Asset Management Communications reported 31,170 shares or 0.01% of all its holdings. Walleye Trading Ltd Liability Corp holds 252,681 shares or 0.01% of its portfolio.

NE Company Profile

Noble Corporation plc, incorporated on January 10, 2013, is an offshore drilling contractor for the gas and oil industry. The Company’s segment is contract drilling services. The Firm performs contract drilling services with its fleet of mobile offshore drilling units. The Company’s fleet of approximately 30 drilling rigs consisted of 14 jackups, eight drillships and eight semisubmersibles, including one high-specification, harsh environment jackup under construction. The Firm conducts offshore contract drilling activities in the United States, Brazil, Argentina, the North Sea, the Mediterranean, West Africa, the Middle East, Asia and Australia.

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