Noble Corp ($NYSE:NE)oration plc is an offshore drilling contractor for the oil and gas industry, specializing in a high-specification fleet of floating and jack-up rigs. It is a publicly traded company on the NYSE and is based in London. Recently, Barclays has upgraded its target price for Noble Corporation to $58 from $56, while maintaining its Overweight Rating. The jack-up rigs sector of Noble’s business is a key factor in this rating increase. These rigs are used in shallow waters and can be moved from one location to another.
They are able to provide stability and reduce risk associated with more expensive deepwater drilling operations, making them a key component of Noble’s portfolio. Furthermore, the number of jack-up rigs being built is increasing, which is expected to boost Noble’s profit margins in the upcoming years. In addition to the positive outlook for jack-up rigs, Barclays believes that Noble’s strong management team and diverse fleet of rigs give the company an advantage in the industry. With these factors in mind, Barclays has increased its price target for Noble, and continues to give it an Overweight rating.
Despite the price target increase, NOBLE CORP stock opened at $52.9 and closed at $51.7, down by 1.7% from its last closing price of $52.6. It appears that the market is not yet convinced by Barclays’ bullish outlook on the company. Investors may be looking for further news around Noble Corp‘s future performance and prospects before jumping in to invest in the stock. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Noble Corp. More…
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Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Noble Corp. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Noble Corp. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Noble Corp are shown below. More…
Income Statement Ratios
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GoodWhale conducted an analysis of NOBLE CORP‘s fundamentals and, based on our Star Chart, found that it is strong in growth, medium in asset, profitability and weak in dividend. We classify NOBLE CORP as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. What type of investors may be interested in such a company? Despite its instability, NOBLE CORP has a high health score of 10/10 with regard to its cashflows and debt, indicating that it is capable of sustaining future operations in times of crisis. Therefore, investors looking for high growth potential despite lower stability and higher risk may be interested in NOBLE CORP. More…
Risk Rating Analysis
Star Chart Analysis
Noble Corp is an international drilling contractor for the oil and gas industry, providing operations in the United States, Canada, Europe, Africa, the Middle East and the Far East. The company competes with other drilling contractors such as Cathedral Energy Services Ltd, Awilco Drilling PLC, and PHX Energy Services Corp, to offer services ranging from drilling and production to well site services and engineering. Noble Corp strives to remain at the forefront of drilling technology by investing in safety and environmental initiatives, ensuring the highest standards of operational performance.
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Noble Corporation plc is a globally active offshore drilling contractor for the oil and gas industry. Barclays has recently adjusted their price target for Noble Corporation shares to $58 from $56, maintaining an overweight rating. Investors can look to Noble Corporation for potential long-term returns given the company’s focus on a high-specification fleet of floating and jack-up rigs. With that said, investors should monitor the company’s performance as there may be some volatility in the market due to global economic conditions in the oil and gas industry.