Noble Corporation (NE): Today's Featured Energy Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Noble Corporation ( NE) pushed the Energy industry higher today making it today's featured energy winner. The industry as a whole closed the day up 0.7%. By the end of trading, Noble Corporation rose $1.58 (4.5%) to $36.53 on average volume. Throughout the day, 6,929,825 shares of Noble Corporation exchanged hands as compared to its average daily volume of 4,635,500 shares. The stock ranged in a price between $35.06-$36.77 after having opened the day at $36.13 as compared to the previous trading day's close of $34.95. Other companies within the Energy industry that increased today were: GeoGlobal Resources ( GGR), up 9.0%, Endeavour International ( END), up 8.8%, Abraxas Petroleum Corporation ( AXAS), up 8.8% and Core Laboratories N.V ( CLB), up 8.1%.
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Noble Corporation operates as an offshore drilling contractor for the oil and gas industry. The company offers contract drilling services for oil and gas wells. Noble Corporation has a market cap of $9.2 billion and is part of the basic materials sector. The company has a P/E ratio of 17.7, below the S&P 500 P/E ratio of 17.7. The company has a P/E ratio of 17.7, equal to the S&P 500 P/E ratio of 17.7. Shares are up 0.4% year to date as of the close of trading on Wednesday.

TheStreet Ratings rates Noble Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

On the negative front, Gasco Energy ( GSX), down 20.8%, New Concept Energy ( GBR), down 17.0%, BMB Munai ( BMBM), down 16.2% and Andatee China Marine Fuel Services Corporat ( AMCF), down 14.8% , were all laggards within the energy industry with Cheniere Energy ( LNG) being today's energy industry laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the energy industry could consider Energy Select Sector SPDR ( XLE) while those bearish on the energy industry could consider Proshares Short Oil & Gas ( DDG).

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