Noble Corporation (NE)

[OilStockReport]

Pickens favors this stock... thoughts?

Noble (NE): Pickens added to his position during the period, at the average price of $40.68 per share. The company has been around for 90 years. It performs contract drilling services with a fleet of 69 offshore drilling units and 5 pending drilling rigs, located worldwide, including in the Middle East, India, the U.S. Gulf of Mexico, Mexico, the Mediterranean, the North Sea, Brazil, West Africa and Asian Pacific. Noble also owns and operates a dynamically positioned floating production, storage, offloading vessel.

Noble shares are trading around fair value on a discounted cash flow basis. We recommend that interested buyers wait for a lower entry point or employ a put-selling strategy to acquire shares.