Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus recommendation of “Buy” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $9.13.
NBR has been the subject of several recent research reports. Wells Fargo & Co upgraded Nabors Industries from a “market perform” rating to an “outperform” rating and set a $8.00 price objective for the company in a report on Friday, June 29th. ValuEngine downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Citigroup decreased their price objective on Nabors Industries from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, July 11th. Morgan Stanley upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a report on Thursday, July 12th. Finally, BMO Capital Markets set a $8.00 price objective on Nabors Industries and gave the company a “hold” rating in a report on Thursday, July 12th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. CIBC World Markets Inc. grew its stake in Nabors Industries by 8.8% in the first quarter. CIBC World Markets Inc. now owns 96,390 shares of the oil and gas company’s stock valued at $674,000 after purchasing an additional 7,780 shares during the last quarter. Glen Harbor Capital Management LLC grew its stake in Nabors Industries by 34.4% in the second quarter. Glen Harbor Capital Management LLC now owns 31,968 shares of the oil and gas company’s stock valued at $205,000 after purchasing an additional 8,176 shares during the last quarter. Legal & General Group Plc grew its stake in Nabors Industries by 1.3% in the first quarter. Legal & General Group Plc now owns 668,484 shares of the oil and gas company’s stock valued at $4,673,000 after purchasing an additional 8,486 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Nabors Industries by 34.6% during the second quarter. Riverhead Capital Management LLC now owns 35,397 shares of the oil and gas company’s stock worth $227,000 after acquiring an additional 9,100 shares during the last quarter. Finally, SCP Investment LP grew its stake in shares of Nabors Industries by 4.5% during the second quarter. SCP Investment LP now owns 230,000 shares of the oil and gas company’s stock worth $1,474,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.
Shares of NBR stock traded up $0.17 on Wednesday, hitting $6.15. The stock had a trading volume of 8,097,325 shares, compared to its average volume of 10,988,532. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.04 and a quick ratio of 1.84. The company has a market capitalization of $2.20 billion, a P/E ratio of -3.77 and a beta of 1.63. Nabors Industries has a one year low of $5.32 and a one year high of $8.86.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, July 31st. The oil and gas company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.15). The firm had revenue of $761.92 million during the quarter, compared to the consensus estimate of $755.76 million. Nabors Industries had a negative net margin of 21.21% and a negative return on equity of 14.97%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. On average, analysts anticipate that Nabors Industries will post -1.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 10th. This represents a $0.24 annualized dividend and a yield of 3.90%. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.
About Nabors Industries
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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