Noble Corporation plc
In the published model solve dated 2026-Q2, anchored at $39.90, Noble Corporation plc (NE) is priced for +19.9% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
Noble Corporation is an offshore drilling contractor, a mature, deeply cyclical business whose numbers should be read against where the oil cycle sits rather than as a steady trend. At $41.64 (June 27, 2026) the price pays about 13x company-wide operating income, which implies operating growth of roughly 4% per year for five years, a modest bar. The most recent quarter was strong: contract drilling revenue of $743 million, net income of $121 million, adjusted EBITDA of $277 million, and a backl
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368 institutional managers reported holding NE in 13F filings for the quarter ended 2026-03-31. Together they hold about 79% of the company; the top 10 hold 49%. 73 opened new positions that quarter. Held by BlackRock, Vanguard Group, First Eagle Investment Management, among others. On the short side, 9.4M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (9.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NE's share count grew 139% over the past five years even with $429.81M spent on repurchases. It pays a dividend, and has for 3 years running, raised 2 years straight; the current rate is $2.00 a share annually. Cash returned over the past three years: $780.69M in dividends and $344.81M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at NE over the trailing three years: 2024: 18 buys totaling $121.83M; 2025: 5 buys totaling $1.05M. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NE's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | +1.4% | -7.2% |
| 2023-11-02 | +5.2% | -7.4% |
| 2024-02-24 | -0.7% | +6.9% |
| 2024-05-08 | +0.8% | -5.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NE's latest 8-K filings: 2026-07-27 (items 2.02, 7.01, 9.01); 2026-06-12 (items 2.03, 9.01); 2026-06-01 (items 8.01, 9.01); 2026-06-01 (items 1.01, 2.03, 8.01, 9.01); 2026-05-22 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.