Noble Corp Plc (NYSE: NE) stock fell -2.27% on Monday to $45.56 against a previous-day closing price of $46.62. With 1.06 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.23 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $47.73 whereas the lowest price it dropped to was $45.53. The 52-week range on NE shows that it touched its highest point at $55.34 and its lowest point at $33.41 during that stretch. It currently has a 1-year price target of $63.80. With its current market cap of 6.25 billion, NE has annualized dividend of $0.64 while the current yield stands at 1.41%. Beta for the stock currently stands at 1.13.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NE was down-trending over the past week, with a drop of -4.53%, but this was down by -4.16% over a month. Three-month performance dropped to -10.08% while six-month performance rose 15.49%. The stock gained 16.76% in the past year, while it has gained 20.82% so far this year. A look at the trailing 12-month EPS for NE yields 3.19 with Next year EPS estimates of 4.51. For the next quarter, that number is 0.65. This implies an EPS growth rate of 103.69% for this year and 72.84% for next year.
Float and Shares Shorts:
At present, 134.68 million NE shares are outstanding with a float of 107.49 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.6 million, which was 3.97% higher than short shares on Sep 28, 2023. In addition to Mr. Robert W. Eifler as the firm’s President, CEO & Director, Mr. Richard B. Barker serves as its Senior VP & CFO.
Through their ownership of 83.86% of NE’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NE analysts setting a high price target of $70.00 and a low target of $59.00, the average target price over the next 12 months is $63.80. Based on these targets, NE could surge 53.64% to reach the target high and rise by 29.5% to reach the target low. Reaching the average price target will result in a growth of 40.04% from current levels.
Summary of Insider Activity:
Insiders traded NE stock several times over the past three months with 5 Buys and 3 Sells. In these transactions, 15,356 shares were bought while 8,809 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 370,351 while 261,520 shares were sold.