Gold prices slip lower; consolidating after recent gains
In a recent transaction, Robert W. Eifler, the President and CEO of Noble Corp plc (NYSE:NE), acquired 12,568 A Ordinary Shares of the company. The purchase, executed on February 20, 2025, was made at a weighted average price of $27.85 per share, amounting to a total value of approximately $350,018. This insider purchase comes as the stock trades near its 52-week low of $27.62, having declined about 31% over the past year. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimate.
Following this acquisition, Eifler’s direct ownership in Noble Corp increased to 1,236,365 shares. The company, which operates in the drilling oil and gas wells sector, is based in Houston, Texas. Noble Corp maintains strong financials with a healthy 42% gross margin and pays a notable 7.2% dividend yield. InvestingPro subscribers can access 8 additional key insights about Noble Corp, including detailed insider trading analysis and comprehensive financial health scores.
In other recent news, Noble Corporation has been the subject of several noteworthy developments. Evercore ISI adjusted its outlook on Noble Corporation by reducing the price target to $34 from $41, citing a decrease in demand for idled capacity. Noble has been active in securing contracts for its semisubmersibles and drillships, though there is a noted decrease in ultra-deepwater contracted demand for this year. Meanwhile, JPMorgan maintained its Neutral rating with a $37 price target, highlighting Noble’s recent achievements in securing contracts for several drilling vessels. Despite these positive steps, the pace of contracting has not matched the levels seen in 2022-23.
Noble Corporation has received an early termination notice for the Noble Deliverer rig, with the remaining contract value to be reported as a special item in the fourth-quarter 2024 earnings. Benchmark analysts maintained their Hold rating, noting the company’s pricing stability in the offshore drilling sector, with 7G drillships consistently priced in the mid-to-high $400,000 per day range. Integration with Diamond Offshore is progressing, with Noble achieving about half of its targeted synergies. The company anticipates a significant reduction in capital expenditures for 2025, contributing to stronger free cash flow.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.