NBR has been the subject of several other reports. Deutsche Bank AG reaffirmed a buy rating and issued a $13.00 target price (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Citigroup Inc. reaffirmed a buy rating on shares of Nabors Industries in a research report on Wednesday, May 10th. ValuEngine downgraded Nabors Industries from a sell rating to a strong sell rating in a research report on Friday, September 1st. Wells Fargo & Company downgraded Nabors Industries from an outperform rating to a market perform rating in a research report on Friday, July 7th. Finally, Guggenheim raised Nabors Industries from a neutral rating to a buy rating and set a $10.00 target price for the company in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $13.42.
Nabors Industries (NYSE:NBR) traded down 6.05% during mid-day trading on Thursday, reaching $6.52. 8,683,863 shares of the company were exchanged. The stock’s 50-day moving average price is $7.02 and its 200-day moving average price is $9.85. Nabors Industries has a 1-year low of $6.18 and a 1-year high of $18.40. The stock’s market capitalization is $1.86 billion.
Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by $0.03. The firm had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. On average, equities research analysts anticipate that Nabors Industries will post ($1.50) EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, September 11th. Nabors Industries’s dividend payout ratio is currently -9.41%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Invictus RG purchased a new stake in Nabors Industries in the first quarter valued at approximately $109,000. Aviance Capital Management LLC purchased a new stake in Nabors Industries in the first quarter valued at approximately $143,000. Point72 Asia Hong Kong Ltd lifted its stake in Nabors Industries by 92.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 5,401 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in Nabors Industries by 714.0% in the second quarter. Harbour Capital Advisors LLC now owns 11,396 shares of the oil and gas company’s stock valued at $1,400,000 after buying an additional 9,996 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Nabors Industries by 2.7% in the first quarter. Venturi Wealth Management LLC now owns 12,260 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 320 shares during the last quarter. Institutional investors own 95.60% of the company’s stock.
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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