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Noble Corporation ( (NE) ) has provided an update.
Noble Corporation plc reported its fourth-quarter and full-year 2025 results on February 11, 2026, highlighting approximately $1.3 billion in new contract awards since October that lifted total backlog to $7.5 billion, and the completed sale of five jackups for $360 million with one more jackup divestiture expected to close in the third quarter of 2026. The company posted fourth-quarter contract drilling revenue of $705 million, net income of $87 million and free cash flow of $35 million, declared a $0.50 per share dividend for the first quarter of 2026, and issued 2026 guidance calling for $2.8 billion to $3.0 billion in revenue, Adjusted EBITDA of $940 million to $1.02 billion and capital expenditures of $590 million to $640 million, underscoring a tightening market, stronger fleet focus and continued capital returns to shareholders.
Noble’s operating metrics showed mixed trends, with marketed floater utilization at 62% and jackup utilization at 68% in the fourth quarter, while new awards with ExxonMobil, Aker BP, bp and others added 9.3 rig years and helped secure future work for idle rigs at dayrates in the $300,000 to $400,000 range. The balance sheet at year-end 2025 carried $2 billion of debt and $471 million in cash, and management emphasized that 2027 backlog already exceeds the current year’s, suggesting improving earnings power over time as the company leans on high-quality backlog, a streamlined fleet and a dividend-plus-buyback capital allocation strategy.
The most recent analyst rating on (NE) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on Noble Corporation stock, see the NE Stock Forecast page.
Spark’s Take on NE Stock
According to Spark, TipRanks’ AI Analyst, NE is a Outperform.
Noble Corporation’s overall stock score reflects a stable financial performance with some challenges, strong technical indicators suggesting bullish momentum, and a positive earnings call highlighting strategic growth and operational excellence. The valuation is slightly high, but the attractive dividend yield provides a compensating factor.
To see Spark’s full report on NE stock, click here.
More about Noble Corporation
Noble Corporation plc is an offshore drilling contractor that provides contract drilling services to major oil and gas companies worldwide, operating a marketed fleet of floaters and jackups focused on deepwater and harsh-environment projects. Listed on the NYSE under the ticker NE, the company targets long-term contracts that build multi-year backlog and support capital returns to shareholders.
Average Trading Volume: 1,793,117
Technical Sentiment Signal: Buy
Current Market Cap: $6.65B
Learn more about NE stock on TipRanks’ Stock Analysis page.