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6 Biggest Energy Earnings Reports Next Week

NE Chart NE data by YCharts

Noble (NE - Get Report)

Background: Noble operates as an offshore drilling contractor for the oil and gas industry. The company offers contract drilling services for oil and gas wells. The company was founded in 1921 and is based in Baar, Switzerland. Noble trades an average of 3.2 million shares per day with a marketcap of $9 billion.

52-Week Range: $28.73 to $41.71

Book Value: $29.63

Price to Book: 1.2

The third-quarter Oct. 17 earnings announcement is highly anticipated by hopeful investors.

The analysts' mean profit appraisal is presently 51 cents a share, a gain of 2 cents (3.9%) from 49 cents during the corresponding quarter last year. Estimates from analysts range from a low of 42 cents per share, up to 77 cents per share.

Thirty-six analysts rate Noble a buy or strong buy out of 41 analysts. The company has three holds, and one recommends selling. Twelve out of 41 analysts now rate Noble a strong buy up from 11 analysts a month ago. Analyst upgrades are substantially impressive for a company with as many buy recommendations as Noble already enjoys.

In the last year, the stock appreciated 18.7%, and the average analyst target price is $47.29.

The 200-day moving average is climbing, albeit, with a price that is testing the 200-day support level. Noble passed the first test of support; however, stocks rarely go through support on the first try.

I would proceed with caution, and if holding shares, I would seriously consider hedging your position.

Shareholders receive about 56 cents annually in dividend payments. The yield based on a recent price is 1.58%.

Based on the last reported short interest of the float, the short interest is inconsequential and not a concern at 2.6%.

NE Revenue Quarterly Chart NE Revenue Quarterly data by YCharts

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