Noble (NE)
Operates deepwater floaters and harsh-environment jackups for offshore oil and gas drilling.
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Provides offshore drilling services through deepwater drillships, semisubmersibles, and harsh-environment jackups deployed across major offshore basins. Revenue is earned primarily under dayrate contracts, while demand depends on oil and gas producers' offshore spending and backlog is concentrated among several customers and regions.
Provides offshore contract drilling services to oil and gas producers through drillships, semisubmersibles, and jackups. The fleet is weighted toward high-specification floaters for deepwater and ultra-deepwater wells, alongside jackups built for shallow-water and ultra-harsh environments. Rigs work across the Americas, North Sea, Africa, Asia, and Oceania and can be redeployed as customer demand shifts.
Earns revenue primarily from dayrate agreements, with full rates tied to rigs operating and reduced or no pay during some interruptions. Fleet capability, availability, safety performance, and operating integrity shape contract awards. Demand depends on producers' offshore exploration and development budgets, which respond to oil and gas prices, project economics, energy policy, and environmental regulation; backlog is concentrated among several major customers and offshore basins.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 30, 2026 | Barclays | Reiterate | Rating: —Target: $50 | Target: $53 |
| Jul 8, 2026 | Susquehanna | Reiterate | Rating: —Target: $45 | Target: $40 |
| May 7, 2026 | Barclays | Upgrade | ||
| Apr 29, 2026 | Barclays | Reiterate | Rating: —Target: $41 | Target: $50 |
| Apr 27, 2026 | Evercore ISI | Target | Target: $45 | Target: $59 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $456.2M · Total debt $1.89B · Total assets $7.24B · Shareholders' equity $4.48B
- Revenue
- $719.7M
- Operating income
- $63.4M
- Net income
- −$36.7M
HistoryDividendAnnual yield
| Institutions | 80.02% | 127.75M shares | |
|---|---|---|---|
| 391 holders · as of Jun 30, 2026 | |||
| Insiders | 20.46% | 32.66M shares | |
| 17 holders · as of Sep 8, 2026 | |||
| Adds to | 100.48% | ||
159.64M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 100.48%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Invest A/S APMHInsider10 percent owner | 19.45% | 31.05M | filed Nov 12, 2024 |
BlackRock, Inc.Institution | 12.32% | 19.67M | as of Jun 30, 2026 |
First Eagle Investment Management, LLCInstitution | 8.74% | 13.96M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.07% | 8.10M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.48% | 7.15M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | Robert W. Eifler | director, officer: President & CEO | −50,000 | $45.51 |
| May 15, 2026 | Al J. Hirshberg | director | −5,000 | $52.62 |
| May 12, 2026 | Charles M. Sledge | director | −724 | $51.61 |
| May 6, 2026 | Blake Denton | officer: SVP, Marketing & Contracts | −30,000 | $49.31 |
| May 5, 2026 | Joey M. Kawaja | officer: SVP, Operations | −40,000 | $49.86 |
- Transocean
Deepwater incumbent — largest UDW fleet, industry-high dayrates of $461K/day.
- Valaris
Broadest fleet — drillships, jackups, and semisubs across all major basins.
- Seadrill
Clean-balance-sheet pure-floater driller in the same Brazil and Gulf basins.
- Borr
Pure-play jackup champion — 29 premium rigs, youngest fleet globally.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Noble | $44.61 | −0.97% | $7.19B | 48.4 | 46.7 | 2.3 | −15.2% |
| Transocean | $5.52 | +0.55% | $5.58B | — | 29.0 | 1.4 | −2.2% |
| Valaris | $83.19 | +0.57% | $5.73B | 6.2 | 13.6 | 2.7 | −12.4% |
| Seadrill | $46.62 | −0.50% | $2.93B | 1,561.7 | 22.3 | 1.9 | +19.1% |
| Borr | $4.37 | −2.13% | $1.37B | — | — | 1.4 | −13.2% |
| Median | 783.9 | 22.3 | 1.6 | −7.3% |