Nabors Industries Ltd. (NYSE:NBR) saw unusually large options trading activity on Thursday. Traders bought 5,574 put options on the company. This represents an increase of 960% compared to the typical volume of 526 put options.
Several hedge funds have recently modified their holdings of NBR. Prudential Financial Inc. raised its holdings in shares of Nabors Industries by 278.9% in the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after purchasing an additional 2,915,370 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Nabors Industries by 101.4% in the 3rd quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after purchasing an additional 2,354,975 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Nabors Industries by 11.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after purchasing an additional 2,243,068 shares during the period. FMR LLC raised its holdings in shares of Nabors Industries by 33.3% in the 2nd quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock valued at $69,068,000 after purchasing an additional 2,118,198 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Nabors Industries by 47.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock valued at $32,637,000 after acquiring an additional 1,302,284 shares during the period. 87.63% of the stock is currently owned by institutional investors.
Shares of Nabors Industries (NYSE:NBR) opened at $8.19 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. The stock has a market cap of $2,340.00, a PE ratio of -3.06 and a beta of 1.59. Nabors Industries has a fifty-two week low of $5.32 and a fifty-two week high of $18.38.
Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million during the quarter, compared to the consensus estimate of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.55) earnings per share. analysts predict that Nabors Industries will post -1.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.93%. Nabors Industries’s payout ratio is -8.96%.
A number of equities analysts have recently commented on NBR shares. Deutsche Bank started coverage on shares of Nabors Industries in a research note on Tuesday, October 10th. They set a “hold” rating and a $9.00 price objective for the company. Zacks Investment Research downgraded shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Cowen set a $11.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Credit Suisse Group set a $8.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Royal Bank of Canada set a $8.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a research note on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $10.75.
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Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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