Nabors Industries Ltd. (NYSE:NBR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.75, but opened at $2.82. Nabors Industries shares last traded at $2.93, with a volume of 14262072 shares traded.
Several analysts recently issued reports on NBR shares. Susquehanna Bancshares lowered Nabors Industries from a “positive” rating to a “neutral” rating in a report on Wednesday, January 9th. BMO Capital Markets dropped their target price on Nabors Industries from $7.50 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Piper Jaffray Companies set a $8.00 price objective on Nabors Industries and gave the company a “hold” rating in a research note on Wednesday, October 3rd. Cowen lowered Nabors Industries from an “outperform” rating to a “market perform” rating and set a $2.75 price objective on the stock. in a research note on Thursday. Finally, Royal Bank of Canada set a $12.00 price objective on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, September 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Nabors Industries has a consensus rating of “Hold” and a consensus target price of $7.92.
The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -1.77 and a beta of 1.95. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.82.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). The firm had revenue of $779.43 million for the quarter, compared to the consensus estimate of $800.78 million. Nabors Industries had a negative return on equity of 14.21% and a negative net margin of 19.25%. Nabors Industries’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.42) EPS. On average, equities analysts expect that Nabors Industries Ltd. will post -1.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 3rd. Investors of record on Thursday, December 13th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 8.33%. The ex-dividend date was Wednesday, December 12th. Nabors Industries’s dividend payout ratio is currently -14.72%.
In related news, Director John P. Kotts purchased 100,000 shares of Nabors Industries stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $5.61 per share, with a total value of $561,000.00. Following the completion of the transaction, the director now directly owns 301,949 shares of the company’s stock, valued at approximately $1,693,933.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Yearwood purchased 197,000 shares of Nabors Industries stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average cost of $5.14 per share, for a total transaction of $1,012,580.00. The disclosure for this purchase can be found here. Corporate insiders own 4.15% of the company’s stock.
A number of large investors have recently modified their holdings of NBR. FNY Investment Advisers LLC boosted its holdings in shares of Nabors Industries by 19,946.4% in the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock valued at $135,000 after purchasing an additional 21,941 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Nabors Industries in the 3rd quarter valued at $175,000. Vanguard Capital Wealth Advisors boosted its holdings in shares of Nabors Industries by 147.1% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 29,900 shares of the oil and gas company’s stock valued at $184,000 after purchasing an additional 17,800 shares in the last quarter. Cerebellum GP LLC boosted its holdings in shares of Nabors Industries by 193.9% in the 4th quarter. Cerebellum GP LLC now owns 91,974 shares of the oil and gas company’s stock valued at $184,000 after purchasing an additional 60,681 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Nabors Industries in the 3rd quarter valued at $228,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.
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Nabors Industries Company Profile (NYSE:NBR)
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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