|Bid||5.510 x 1100|
|Ask||5.520 x 1100|
|Day's Range||5.300 - 5.550|
|52 Week Range||3.140 - 6.330|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 1, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.84|
On June 8–15, Whiting Petroleum (WLL) and California Resources (CRC) fell the most on our list of energy stocks. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.9% last week—the second-highest decline among the major energy subsector ETFs that we looked at in Part 2 of this series.
This Friday, WallStEquities.com has initiated reports coverage on the following Oil & Gas Drilling & Exploration equities: Noble Corp. PLC (NYSE: NE), Halcon Resources Corp. (NYSE: HK), Helmerich & Payne Inc. (NYSE: HP), and Jagged Peak Energy Inc. (NYSE: JAG). London, the UK headquartered Noble Corp. PLC's stock finished Thursday's session 2.33% lower at $5.45 with a total trading volume of 4.72 million shares.
LONDON , June 14, 2018 /PRNewswire/ -- Noble Corporation plc (NYSE: NE) today announced that Adam C. Peakes , Senior Vice President and Chief Financial Officer, will present at the J.P. Morgan Energy Equity ...
Most of the offshore drilling stocks traded in the green in the week ending June 8. The best performers for week 23 were Noble and Diamond Offshore. In week 23, Seadrill was the weakest performer.
NEW YORK, June 08, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of BP ...
LONDON , June 7, 2018 /PRNewswire/ -- Noble Corporation plc (NYSE: NE) today announced that its report of drilling rig status and contract information has been updated as of June 7 , 2018. The report, ...
In week 22 (the week ended June 1), one offshore drilling stock was downgraded. On May 30, Credit Suisse downgraded Noble Corporation to “neutral” from “outperform.”
Noble (NE) is rising on Tuesday, thanks to an upgrade from Bernstein's Colin Davies, who believes that higher oil prices will benefit oilfield-services stocks in general. Davies writes that sustainable higher oil prices will lead to higher capital expenditures from exploration and production companies, which will boost services' revenue. Davies now expects oil prices to average $73 per barrel through 2023, up from $65, previously.
LONDON, UK / ACCESSWIRE / June 5, 2018 / If you want access to our free earnings report on Noble Corp. PLC (NYSE: NE), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NE. The Company's reported quarter results included an after-tax loss totaling $7 million, or $0.03 per diluted share, resulting from the early retirement of debt.
Research conducted here at VanEck has identified that oil price and the S&P 500 Index can be used to explain most of the performance of oil services stocks historically. Using these variables to generate an expected return for oil services stocks, we can look at the difference between this and the actual return of oil services stocks. Right now, based on these variables, oil services stocks are trading at a substantial discount, and the chart below shows that oil services stocks haven’t been this cheap since 2001.
The operating cash flow represents the cash flow from a company’s core operations. In the first quarter, Transocean’s (RIG) cash flow from operations dropped to $103 million from $244 million in the previous quarter. Transocean’s capex stood at $53 million in the first quarter.
Transocean (RIG) expects its second-quarter revenues to increase 14% from the first quarter. In the first quarter, Transocean’s (RIG) drilling revenues were $664 million—5.5% higher than its revenues of $629 million in the previous quarter and 11.2% lower than its revenues of $748 million in the first quarter of 2017. Transocean acquired these floaters from Songa on January 30.
After a fantastic run for Seadrill (SDRL) in week 20, the stock fell in the following week. In week 20, Seadrill reached a 52-week high of $0.73. The stock rose more than 98% in week 20. This situation turned around in week 21 (week ending May 25) and the stock fell more than 32%. We already mentioned in our previous article that the stock rise was not based on fundamentals. Also, Seadrill’s technicals suggested the stock was overbought and overvalued. Thus, a fall in Seadrill’s price was expected.
Analysts’ rating for Noble (NE) is 3.2, which means “hold.” Their ratings for other offshore drilling stocks (IYE), on a scale of 1 (strong buy) to 5 (strong buy), are as follows: Transocean (RIG): 2.7, or “hold” Ensco (ESV): 2.7, or “hold” Rowan Companies (RDC): 2.6, or “hold” Diamond Offshore (DO): 3.5, or “hold”
Analysts’ consensus rating for Transocean (RIG) is 2.7, which means “hold.” Peers Rowan Companies (RDC), Diamond Offshore (DO), Noble (NE), and Ensco (ESV) also have “hold” ratings.
Analysts’ consensus rating for Diamond Offshore is 3.5, which means a “hold.” Their ratings for other offshore drillers (XLE) on a scale of 1 (strong buy) to 5 (strong buy) are as follows: Ensco (ESV): 2.7, which means “hold” Transocean (RIG): 2.7, which means “hold” Rowan Companies (RDC): 2.6, which means “hold” Noble (NE): 3.2, which means “hold”
Analysts’ consensus rating for Rowan (RDC) is 2.6, which means a “hold.” Peers Transocean (RIG), Diamond Offshore (DO), Noble (NE), and Ensco (ESV) also have “hold” ratings.
In this series, we’ll discuss analysts’ ratings and recommendations for offshore drillers, starting with Ensco (ESV). Of the 31 analysts covering Ensco, 45% recommend “buy” or some equivalent, 39% recommend “hold,” and 16% recommend “sell.” Among the top offshore drilling stocks (IYE), Ensco has the highest percentage of “buy” recommendations.
The offshore drilling industry made headlines last week, especially Seadrill (SDRL), which reached a 52-week high of $0.73 on May 17. The stock rose more than 98% in Week 20 (ended May 18). On May 17, The company’s volume increased to 69.3 million shares, making it the third most actively traded stock on major US exchanges. The stock’s last-three-month trading volume was 5.2 million, and its price was 300% higher than its 52-week low.
Seadrill (SDRL) had a fantastic run in the last four days. Read Why Seadrill Stock Skyrocketed? to learn more about why the stock price rose and if any fundamentals are attached to the rise. In this part, we’ll discuss the technical indicators for Seadrill and some other key offshore drillers (IYE).
On May 11–18, upstream stock Chesapeake Energy (CHK) was the top gainer on our list of energy stocks. During this period, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 4.6%—the largest gainer among the major energy subsector ETFs that we discussed in the previous part of this series.
In week 19, which ended on May 11, several analysts revised their recommendations and target prices for offshore drilling stocks.
Last week, Noble Corporation (NE) released its monthly fleet status report. A fleet status report includes contract information, drilling status, and planned out-of-service time for every rig. Noble Corporation is the only company in the offshore drilling space that still releases monthly fleet status reports.
LONDON, May 17, 2018 /PRNewswire/ -- Noble Corporation plc (NE) today announced that Julie J. Robertson, Chairman, President and Chief Executive Officer, will present at the UBS Global Oil and Gas Conference in Austin, Texas, on Wednesday, May 23, 2018, at 11:45 a.m. Central Daylight Time. A live webcast and presentation slides will be available at the time of the presentation in the "Investor Relations" section of the Company's Website http://www.noblecorp.com. The Company owns and operates one of the most modern, versatile and technically advanced fleets in the offshore drilling industry.