Stock of the Day: Time to Buy Noble Corporation Ordinary Shares (UK) After Today’s Huge Increase?

Stock of the Day: Time to Buy Noble Corporation Ordinary Shares (UK) After Today's Huge Increase?

The stock of Noble Corporation Ordinary Shares (UK) (NYSE:NE) is a huge mover today! About 10.38 million shares traded hands. Noble Corporation Ordinary Shares (UK) (NYSE:NE) has declined 55.43% since April 27, 2016 and is downtrending. It has underperformed by 60.65% the S&P500.
The move comes after 6 months positive chart setup for the $1.30 billion company. It was reported on Nov, 30 by Barchart.com. We have $6.50 PT which if reached, will make NYSE:NE worth $78.00M more.

Analysts await Noble Corporation Ordinary Shares (UK) (NYSE:NE) to report earnings on February, 1. They expect $-0.17 earnings per share, down 132.69% or $0.69 from last year’s $0.52 per share. After $-0.23 actual earnings per share reported by Noble Corporation Ordinary Shares (UK) for the previous quarter, Wall Street now forecasts -26.09% EPS growth.

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

Out of 23 analysts covering Noble Corp PLC (NYSE:NE), 5 rate it a “Buy”, 6 “Sell”, while 12 “Hold”. This means 22% are positive. Noble Corp PLC has been the topic of 47 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was upgraded by Societe Generale on Tuesday, January 19 to “Buy”. The company was initiated on Tuesday, October 20 by Citigroup. The rating was downgraded by Goldman Sachs on Friday, March 11 to “Sell”. The stock of Noble Corporation Ordinary Shares (UK) (NYSE:NE) earned “Buy” rating by Global Hunter Securities on Friday, August 21. The company was downgraded on Wednesday, August 10 by Argus Research. The rating was upgraded by Societe Generale on Friday, January 8 to “Buy”. The rating was downgraded by Piper Jaffray to “Underweight” on Friday, March 11. Cowen & Co maintained Noble Corporation Ordinary Shares (UK) (NYSE:NE) rating on Friday, July 31. Cowen & Co has “Outperform” rating and $18 price target. The rating was upgraded by Bank of America to “Neutral” on Tuesday, August 16. The stock of Noble Corporation Ordinary Shares (UK) (NYSE:NE) has “Neutral” rating given on Tuesday, March 15 by Susquehanna.

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 decreased to 0.85 in Q2 2016. Its down 0.23, from 1.08 in 2016Q1. The ratio dived, 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.
Dekabank Deutsche Girozentrale, a Germany-based fund reported 32,400 shares. Liberty Mutual Asset Mngmt has 105,577 shares for 0.03% of their US portfolio. The Arizona-based Arizona State Retirement Sys has invested 0.01% in Noble Corporation Ordinary Shares (UK) (NYSE:NE). Ent Fin Ser reported 600 shares or 0% of all its holdings. Capstone Asset Management Com holds 31,170 shares or 0.01% of its portfolio. Qs Limited Company has invested 0.08% of its portfolio in Noble Corporation Ordinary Shares (UK) (NYSE:NE). Donald Smith Co last reported 0.9% of its portfolio in the stock. Cutler Cap Management Limited Liability Corporation last reported 16,000 shares in the company. Ig Invest Mngmt accumulated 0% or 6,611 shares. Finemark Comml Bank has 0% invested in the company for 2,768 shares. Apg Asset Management Nv holds 0.03% or 2.16M shares in its portfolio. Glenmede Na holds 355,782 shares or 0.02% of its portfolio. Mcf Ltd Liability owns 300 shares or 0% of their US portfolio. Fifth Third Comml Bank has 40,644 shares for 0% of their US portfolio. Alliancebernstein Lp last reported 174,493 shares in the company.

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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