NE Stock Summary and Trading Ideas (Noble PLC A | NYSE:NE)

Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units. The company focuses on a high-specification fleet of floating and jackup rigs and the deployment of its drilling rigs in oil and gas basins around the world.

Noble PLC A trades on the NYSE stock market under the symbol NE.

As of April 24, 2024, NE stock price declined to $46.18 with 156,284 million shares trading.

NE has a beta of 0.96, meaning it tends to be less sensitive to market movements. NE has a correlation of 0.12 to the broad based SPY ETF.

NE has a market cap of $6.59 billion. This is considered a Mid Cap stock.

Last quarter Noble PLC A reported $643 million in Revenue and $.39 earnings per share. This beat revenue expectation by $40 million and missed earnings estimates by -$.19.

The top ETF exchange traded funds that NE belongs to (by Net Assets): VTI, VB, IWM, OIH, VXF.

NE has outperformed the market in the last year with a return of +25.4%, while the SPY ETF gained +24.2%. However, in the most recent history, NE shares have underperformed the stock market with its stock returning +4.5% in the last 3 month period and -9.3% for the last 2 week period, while SPY has returned +4.5% and -2.7%, respectively.

NE support price is $46.17 and resistance is $48.05 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NE stock will trade within this expected range on the day.