Renaissance Technologies LLC increased its position in shares of Noble Co. (NYSE:NE) by 941.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,624,099 shares of the company’s stock after buying an additional 1,468,099 shares during the period. Renaissance Technologies LLC’s holdings in Noble were worth $9,615,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Planning increased its position in shares of Noble by 5.7% in the third quarter. Creative Planning now owns 42,661 shares of the company’s stock worth $270,000 after buying an additional 2,290 shares during the last quarter. Hedeker Wealth LLC bought a new position in shares of Noble during the third quarter worth about $255,000. Kessler Investment Group LLC bought a new position in shares of Noble during the third quarter worth about $3,220,000. First Quadrant L P CA increased its position in shares of Noble by 153.4% in the third quarter. First Quadrant L P CA now owns 1,901,398 shares of the company’s stock worth $12,055,000 after buying an additional 1,150,900 shares during the last quarter. Finally, Sippican Capital Advisors increased its position in shares of Noble by 34.5% in the third quarter. Sippican Capital Advisors now owns 218,431 shares of the company’s stock worth $1,385,000 after buying an additional 56,017 shares during the last quarter. 91.66% of the stock is currently owned by institutional investors and hedge funds.
Noble Co. (NYSE:NE) opened at 5.83 on Friday. Noble Co. has a 52 week low of $4.45 and a 52 week high of $12.25. The company has a 50-day moving average of $6.60 and a 200-day moving average of $6.23. The company’s market cap is $1.43 billion.
Noble (NYSE:NE) last released its earnings results on Thursday, February 9th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The business earned $410 million during the quarter, compared to analysts’ expectations of $399.02 million. During the same quarter in the previous year, the business earned $0.52 EPS. The business’s revenue for the quarter was down 52.2% on a year-over-year basis. On average, equities analysts expect that Noble Co. will post ($1.32) EPS for the current year.
A number of research analysts have issued reports on NE shares. KeyCorp reissued a “hold” rating on shares of Noble in a research report on Wednesday, November 30th. Sanford C. Bernstein started coverage on shares of Noble in a research report on Thursday, December 1st. They set a “market perform” rating and a $6.50 price objective on the stock. Goldman Sachs Group Inc downgraded shares of Noble from a “neutral” rating to a “sell” rating and set a $4.00 price objective on the stock. in a research report on Friday, December 16th. Royal Bank of Canada downgraded shares of Noble from a “sector perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a research report on Friday, December 16th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of Noble in a research report on Friday, December 23rd. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Noble currently has an average rating of “Hold” and a consensus target price of $7.96.
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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