Noble Corporation PLC Class A (NE)

In the past six months, Noble Corp. Plc announced its second-quarter 2025 results on August 5, 2025, reporting approximately $380 million in new contract awards and a backlog of $6.9 billion. Noble announced its third-quarter 2025 results on October 27, 2025, with approximately $740 million in new contract value and an increased backlog of $7.0 billion. Noble declared a $0.50 per share cash dividend for Q3 2025, bringing total capital returned to shareholders since Q4 2022 to over $1.1 billion, and a $0.50 per share cash dividend was also declared for Q4 2025. In December 2025, Noble announced an agreement to sell five premium jack-up drilling rigs to Borr Drilling Limited for approximately US$360 million, with the transaction expected to close in the first quarter of 2026. The stock price saw an 11.10% decline from January 7, 2025, to January 6, 2026, and analysts have given Noble a "Hold" consensus rating, with a 12-month average price target suggesting a potential upside. The offshore drilling market is expected to experience softness until late 2026, but Noble's fleet is anticipated to benefit from rising demand and utilization into 2027.

The demand for Noble Corp. Plc's products and services is influenced by broader market conditions in the oil and gas industry, with a cyclical nature tied to oil prices and exploration budgets rather than predictable seasonal fluctuations. The offshore drilling market is generally expected to grow, and Noble has a strong backlog of contracts, but the market has experienced some softness, with contract fixtures for lower specification floaters being limited in 2024, and a softer utilization environment anticipated throughout 2025 due to "white space risk" affecting floater segments. The current market softness is expected to continue until late 2026, with a projected benefit from rising demand and utilization into 2027.

Noble Corporation Plc is a leading offshore drilling contractor in the oil and gas industry, operating within the Energy sector. It provides contract drilling services globally using mobile offshore drilling units, including floaters and jackup rigs, serving primarily large oil and gas companies.

Noble Corporation Plc has a significant global presence, conducting drilling operations across various established and emerging regions including Africa, Far East Asia, the Middle East, the North Sea, Oceania, South America, and the US Gulf of Mexico.

Noble Corporation emphasizes its commitment to excellent Health, Safety, and Environmental (HSE) performance, integrating HSE improvements into its business strategy to add value for customers and shareholders. The company positions itself as a "dynamic leader in offshore drilling" with a century-long history, and there have been no specific negative events significantly impacting Noble Corp. Plc's brand reputation reported in the past year.

Noble Corporation Plc is largely institutionally controlled, with institutional investors holding a significant majority, controlling approximately 72.28% to 98.88% of the company's shares. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., First Eagle Investment Management, LLC, Dimensional Fund Advisors Lp, and State Street Corp.