Noble Corp
About: Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.
Employees: 3,600
0
Funds holding %
of 6,823 funds
0
Analysts bullish %
of 5 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
118% more repeat investments, than reductions
Existing positions increased: 131 | Existing positions reduced: 60
75% more first-time investments, than exits
New positions opened: 77 | Existing positions closed: 44
18% more funds holding in top 10
Funds holding in top 10: 11 [Q2] → 13 (+2) [Q3]
10% more funds holding
Funds holding: 272 [Q2] → 299 (+27) [Q3]
8% more call options, than puts
Call options by funds: $52.8M | Put options by funds: $48.7M
0.71% more ownership
Funds ownership: 72.19% [Q2] → 72.89% (+0.71%) [Q3]
7% less capital invested
Capital invested by funds: $4.61B [Q2] → $4.28B (-$324M) [Q3]
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$37
10%
upside
Avg. target
$40
18%
upside
High target
$42
25%
upside
5 analyst ratings
2 positive
40%
3 neutral
60%
0 negative
0%
Evercore ISI Group James West 50% 1-year accuracy 19 / 38 met price target | 22%upside $41 | In-Line Downgraded | 15 Jan 2025 |
Barclays Eddie Kim 20% 1-year accuracy 2 / 10 met price target | 25%upside $42 | Overweight Maintained | 18 Dec 2024 |
JP Morgan Arun Jayaram 55% 1-year accuracy 17 / 31 met price target | 10%upside $37 | Neutral Initiated | 6 Dec 2024 |
Citigroup Nikhil Gupta 50% 1-year accuracy 3 / 6 met price target | 19%upside $40 | Buy Maintained | 27 Nov 2024 |
Susquehanna Charles Minervino 39% 1-year accuracy 28 / 71 met price target | 13%upside $38 | Neutral Maintained | 7 Nov 2024 |
Financial journalist opinion
Based on 4 articles about NE published over the past 30 days
Positive
Seeking Alpha
1 week ago
Noble Corporation: Strong Free Cash Flow Generation, With The Majority Returned To Shareholders
Following the acquisitions of Maersk Drilling and Diamond Offshore, Noble Corporation is now one of the largest offshore drilling contractors, second only to Transocean based on enterprise value. Noble's capital structure is balanced with net debt accounting for less than 25% of the enterprise value. In contrast, Seadrill has almost no net debt, and Transocean remains overleveraged. In today's environment, Noble generates healthy free cash flows representing approximately 10% of the current market capitalization. Most of the excess cash is distributed to shareholders via buybacks and dividends.
Positive
Zacks Investment Research
2 weeks ago
Noble Clinches New Contract for Ocean Apex in Australia
NE's new drilling assignment in Australia is anticipated to last for at least 37 days. The assignment will follow Ocean Apex's prior commitments in the region.
Positive
Zacks Investment Research
2 weeks ago
Noble Corporation Wins $84M Contract for Petronas Offshore Suriname
NE's contract involves drilling three wells offshore Suriname for Petronas using its semi-submersible rig Noble Developer. The rig previously worked for Petronas in Suriname.
Neutral
Zacks Investment Research
3 weeks ago
NE Lands New Drilling Contracts in Ghana & the U.S. Gulf of Mexico
Noble Corporation's Noble Venturer drillship is expected to begin operations offshore Ghana in 2025 while Noble Globetrotter I is anticipated to start its contract early in January 2025.
Neutral
24/7 Wall Street
2 months ago
Post-Election Insider Buying in These 6 Stocks Is Huge
24/7 Wall St. Insights As we race toward the end of the year, the past week brought some huge insider share purchases.
Neutral
Seeking Alpha
2 months ago
Noble Corporation: Production Backlog And Capital Return Promising, Yet Low Visibility On Earnings Past 2025
Noble Corporation's geographic diversification and strong client base are positives, but its lack of long-term contracts and idle rigs are concerning. The company's fluctuating revenues and earnings, coupled with high operating costs for idle rigs, present significant financial risks. Despite the attractive valuation, unpredictable oil prices and delayed contract executions make future earnings uncertain.
Neutral
Seeking Alpha
2 months ago
Noble Corporation plc (NE) Q3 2024 Earnings Call Transcript
Noble Corporation plc (NYSE:NE ) Q3 2024 Earnings Conference Call November 6, 2024 9:00 AM ET Company Participants Ian MacPherson - Vice President of Investor Relations Robert Eifler - President and Chief Executive Officer Richard Barker - Chief Financial Officer Blake Denton - Senior Vice President of Marketing and Contracts Joey Kawaja - Senior Vice President of Operations Conference Call Participants Eddie Kim - Barclays Capital Kurt Hallead - Benchmark Greg Lewis - BTIG Fredrik Stene - Clarksons Securities David Smith - Pickering Energy Partners Operator Good morning, and welcome to the Noble Corporation's Third Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.
Negative
Zacks Investment Research
2 months ago
Noble Corporation PLC (NE) Q3 Earnings Lag Estimates
Noble Corporation PLC (NE) came out with quarterly earnings of $0.58 per share, missing the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.87 per share a year ago.
Neutral
PRNewsWire
2 months ago
NOBLE CORPORATION PLC ANNOUNCES THIRD QUARTER 2024 RESULTS AND ADDITIONAL SHARE REPURCHASE AUTHORIZATION
Closed Diamond acquisition on September 4th Increased capital return program with additional share repurchase authorization of $400 million Repurchased 6.9 million of shares in Q3 2024, $0.50 per share dividend declared for Q4 2024, bringing total FY 2024 cash returns to shareholders to over $525 million, including Q4 dividend Q3 Net Income of $61 million, Diluted Earnings Per Share of $0.40, Adjusted EBITDA of $291 million, net cash provided by operating activities of $284 million, and Free Cash Flow of $165 million Q4 2024 Guidance provided as follows: Total Revenue $850 to $890 million, Adjusted EBITDA $275 to $305 million, Capital Additions (net of reimbursements) $105 to $135 million SUGAR LAND, Texas , Nov. 5, 2024 /PRNewswire/ -- Noble Corporation plc (NYSE: NE, CSE: NOBLE, "Noble" or the "Company") today reported third quarter 2024 results. Three Months Ended (in millions, except per share amounts) September 30, 2024 September 30, 2023 June 30,2024 Total Revenue $ 801 $ 697 $ 693 Contract Drilling Services Revenue 764 671 661 Net Income (Loss) 61 158 195 Adjusted EBITDA* 291 283 271 Adjusted Net Income (Loss)* 89 127 105 Basic Earnings (Loss) Per Share 0.41 1.14 1.37 Diluted Earnings (Loss) Per Share 0.40 1.09 1.34 Adjusted Diluted Earnings (Loss) Per Share* 0.58 0.87 0.72 * A Non-GAAP supporting schedule is included with the statements and schedules in this press release.
Neutral
PRNewsWire
3 months ago
Noble Corporation plc to announce third quarter 2024 results
SUGAR LAND, Texas , Oct. 18, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble" or the "Company") (CSE: NOBLE, NYSE: NE) today announces plans to report financial results for the third quarter 2024 on Tuesday November 5, 2024 after the U.S. market close. The Company's earnings press release and accompanying earnings presentation will be available on the Noble website at www.noblecorp.com.
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