Noble saw its IBD SmartSelect Composite Rating jump to 96 Thursday, up from 93 the day before.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The top-performing stocks tend to have a 95 or better grade as they launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Noble is trading within the buy zone from a 41.85 entry from a cup with handle. It did give back all of its gains from the original breakout earlier, but roared back after the recent earnings report.
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One weak spot is the company's 78 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
Earnings Report
The company posted a 0% earnings-per-share gain for Q4. Revenue growth rose 199%, up from 22% in the prior report. That marks one quarter of rising revenue increases.
Noble holds the No. 2 rank among its peers in the Oil & Gas-Drilling industry group. ChampionX is the No. 1-ranked stock within the group.
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