Nabors Industries (NYSE:NBR) has received a consensus rating of “Hold” from the twenty-four research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $9.73.
A number of research analysts have recently issued reports on NBR shares. Seaport Global Securities restated a “buy” rating and issued a $13.00 price target on shares of Nabors Industries in a research report on Thursday, January 18th. Citigroup boosted their price target on shares of Nabors Industries to $9.50 and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Cowen restated a “buy” rating and issued a $10.00 price target on shares of Nabors Industries in a research report on Friday, April 13th. Morgan Stanley boosted their target price on shares of Nabors Industries from $8.50 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 11th. Finally, Zacks Investment Research upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st.
Shares of NYSE NBR traded down $0.30 during midday trading on Friday, reaching $8.31. The stock had a trading volume of 13,623,100 shares, compared to its average volume of 10,278,146. The company has a market capitalization of $2.66 billion, a P/E ratio of -5.17 and a beta of 1.61. Nabors Industries has a twelve month low of $5.32 and a twelve month high of $10.75. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.72 and a current ratio of 1.95.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, May 1st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.01). The firm had revenue of $734.66 million during the quarter, compared to analyst estimates of $763.99 million. Nabors Industries had a negative return on equity of 14.45% and a negative net margin of 19.81%. analysts forecast that Nabors Industries will post -0.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Tuesday, June 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 11th. This represents a $0.24 dividend on an annualized basis and a yield of 2.89%. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.
A number of hedge funds have recently made changes to their positions in NBR. Millennium Management LLC increased its stake in Nabors Industries by 1,865.6% during the 1st quarter. Millennium Management LLC now owns 14,831,684 shares of the oil and gas company’s stock valued at $103,673,000 after purchasing an additional 15,671,698 shares in the last quarter. Thunderbird Partners LLP bought a new stake in Nabors Industries during the 4th quarter valued at $37,219,000. BlackRock Inc. increased its stake in Nabors Industries by 15.3% during the 4th quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock valued at $190,080,000 after purchasing an additional 3,700,602 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Nabors Industries by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 26,742,876 shares of the oil and gas company’s stock valued at $186,933,000 after purchasing an additional 1,973,537 shares in the last quarter. Finally, Slate Path Capital LP bought a new stake in Nabors Industries during the 4th quarter valued at $11,748,000. Institutional investors and hedge funds own 85.43% of the company’s stock.
Nabors Industries Company Profile
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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