JPMorgan Downgrades Noble Corporation (NE) as Part of 2026 Outlook

The share price of Noble Corporation plc (NYSE:NE) fell by 6.16% between December 3 and December 10, 2025, putting it among the Energy Stocks that Lost the Most This Week.

Noble Corporation plc (NYSE:NE) operates as an offshore drilling contractor in the oil and gas industry worldwide.

Noble Corporation plc (NYSE:NE) received a blow on December 10 when JPMorgan downgraded the stock from ‘Overweight’ to ‘Neutral’. However, the analyst raised NE’s price target from $31 to $33. The downgrade follows the firm’s adjustment of ratings in the oilfield services and equipment sector as part of its 2026 outlook. JPMorgan remains cautious about the sector due to reduced upstream spending amid the current low-price environment. The analyst expects companies with the most resilient earnings and growth prospects to be best positioned, whereas Noble has fallen below earnings estimates in each of its last five quarters.

In other news, Noble Corporation plc (NYSE:NE) announced on December 8 that it has signed deals to sell five jackup rigs to Borr Drilling and one jackup to Ocean Oilfield Drilling, for a combined value of $424 million. The divestment is part of a strategic move by the company as it turns into a ‘pureplay deepwater and ultra-harsh environment jackup operator’.

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Disclosure: None.