NEW YORK (TheStreet) -- Shares of Noble Corp. (NE) ended Friday's regular trading session lower by 2.49% to $15.30 on heavy volume, along with other energy related stocks as oil prices slumped to trade in negative territory.
Oil prices fell amid worries over the Greek fiscal crisis, Reuters reports.
Additionally, the U.S. shale oil output forecast that production would continue to grow this year countered signs of a rise in demand, according to Reuters.
Brent crude for August delivery was down 2.15% to $62.88 a barrel as of 4:27 p.m. ET today, while U.S. crude for July delivery was lower by 1.65% to $59.45 a barrel.
About 11.09 million shares have traded hands as of 4:27 p.m. ET today, compared to its average trading volume of about 7.49 million shares a day.
Noble Corp. is a British company, operating as a major contract driller of oil and natural gas wells, with its focus largely on ultra-deepwater and high-specification jack-up drilling opportunities.
Separately, TheStreet Ratings team rates NOBLE CORP PLC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NOBLE CORP PLC (NE) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."