Stock in Focus: Noble Corp (NE)

Company Profile:

Noble Corp PLC is an offshore drilling contractor for the oil and gas industry. It performs contract drilling services with its fleet of mobile offshore drilling units. As of February 18, 2020, the company operated a fleet of 25 drilling rigs consisted of 12 floaters and 13 jackups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

Recent News:

The company planed to report financial results for the first quarter 2020 on Wednesday, May 6, 2020, after the close of trading on the New York Stock Exchange.

On March 16, 2020, the company announced that Richard Barker (38) will replace Stephen M. Butz as Chief Financial Officer of the Company, following Mr. Butz’ decision to step down as Executive Vice President and Chief Financial Officer to pursue other opportunities.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

NE’s strengths can be seen in its better growth, better profitability and better efficiency compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator and the RSI stands at 46.93 with positive bias. We rate Noble Corp (NE) a STRONG BUY.