Barclays Remains a Buy on Noble Corporation PLC Class A (NE)

Barclays analyst Eddie Kim maintained a Buy rating on Noble Corporation PLC Class A (NE – Research Report) today and set a price target of $59.00. The company’s shares closed yesterday at $47.25.

Kim covers the Energy sector, focusing on stocks such as Transocean, Noble Corporation PLC Class A, and Valaris. According to TipRanks, Kim has an average return of 20.2% and a 79.17% success rate on recommended stocks.

Currently, the analyst consensus on Noble Corporation PLC Class A is a Moderate Buy with an average price target of $56.00, representing a 18.52% upside. In a report released on May 8, Benchmark Co. also initiated coverage with a Buy rating on the stock with a $60.00 price target.

Based on Noble Corporation PLC Class A’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $610.05 million and a net profit of $108.06 million. In comparison, last year the company earned a revenue of $305.87 million and had a net profit of $51.85 million

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NE in relation to earlier this year.

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Noble Corporation PLC Class A (NE) Company Description:

Noble Corp is an offshore drilling contractor for the oil and gas industry. The company operates under one segment namely, Contract Drilling Services. The fleet consists of around 19 drilling rigs consisted of 7 floaters and 12 jackups. Its geographical segments are Australia, Canada, Denmark, Guyana, Myanmar, Qatar, Saudi Arabia, Malaysia, Trinidad & Tobago, United Kingdom, United States, and other countries.