Noble Corporation (NYSE:NE) hit a new 52-week high Tuesday as it changed hands at $46.25 compared with its previous 52-week high of $46.06. Noble is currently trading at $46.23 with 423,484 shares changing hands as of 9:37 a.m.
NEW YORK ( TheStreet) -- Noble Corporation (NYSE: NE) hit a new 52-week high Tuesday as it traded at $46.25 compared with its previous 52-Week high of $46.06. Noble is changing hands at $46.23 with 423,484 shares traded as of 9:37 a.m. ET. Average volume has been six million shares over the past 30 days. Noble has a market cap of $10.9 billion and is part of the basic materials sector and energy industry. Shares are up 26.8% year to date as of the close of trading on Monday. Noble Corporation provides offshore contract drilling services for the oil and gas industry worldwide. As of December 31, 2009, it operated a fleet of 62 mobile offshore drilling units, including 13 semisubmersibles, four dynamically positioned drillships, 43 jackups, and two submersibles. The company has a P/E ratio of 14.3, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 15.8.
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TheStreet Ratings rates Noble as a hold. The company's strengths can be seen in multiple areas, such as its expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Noble Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.