Nabors Industries Ltd. (NYSE:NBR) shares traded down 4.4% on Tuesday . The company traded as low as $5.67 and last traded at $6.12. 12,642,300 shares changed hands during trading, an increase of 47% from the average session volume of 8,601,235 shares. The stock had previously closed at $6.40.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Bank of America Corporation reduced their price target on Nabors Industries from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Jefferies Group LLC raised Nabors Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $6.19 to $9.00 in a research note on Wednesday, November 8th. UBS AG reduced their price target on Nabors Industries from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Finally, BMO Capital Markets set a $6.00 price target on Nabors Industries and gave the stock a “hold” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.30.
The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The business had revenue of $662.50 million for the quarter, compared to analyst estimates 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 was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.55) earnings per share. equities research analysts forecast that Nabors Industries Ltd. will post -1.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 4.15%. Nabors Industries’s dividend payout ratio is presently -8.96%.
Institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in Nabors Industries by 26.4% in the first quarter. HighTower Advisors LLC now owns 14,873 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 3,109 shares in the last quarter. Capstone Asset Management Co. grew its stake in Nabors Industries by 0.9% in the second quarter. Capstone Asset Management Co. now owns 23,571 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 220 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Nabors Industries by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 104,612 shares of the oil and gas company’s stock worth $852,000 after purchasing an additional 4,419 shares in the last quarter. LS Investment Advisors LLC grew its stake in Nabors Industries by 19.7% in the second quarter. LS Investment Advisors LLC now owns 22,907 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 3,777 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Nabors Industries by 50.9% in the second quarter. Nisa Investment Advisors LLC now owns 247,100 shares of the oil and gas company’s stock worth $2,034,000 after purchasing an additional 83,300 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.
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About Nabors Industries
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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