NEW YORK (TheStreet) -- Nobel Corp. (NE) - Get Report stock is down 4.04% to $12.35 in afternoon trading on Thursday as U.S. crude oil prices remain under $50 a barrel.

WTI crude is down 0.59% to $48.50 per barrel, while the Brent crude is falling by 0.09% to $53.33 per barrel this afternoon, according to a CNBC.com index.

Nobel Corp. reported better than expected 2015 second quarter earnings results after yesterday's market close.

The company posted earnings of 64 cents per share on revenue of $793.55 million for the quarter ended June 30.

Analysts surveyed by Thomson Reuters had estimated earnings of 52 cents per share on revenue of $770.08 million.

Last year, the offshore drilling contractor reported earnings of 91 cents on revenue of $803.78 million for the second quarter.

Separately, TheStreet Ratings team rates NOBLE CORP PLC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NOBLE CORP PLC (NE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself."

You can view the full analysis from the report here: NE Ratings Report

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