Nabors Industries Ltd. (NYSE:NBR) – Investment analysts at Piper Jaffray Companies lowered their Q4 2019 earnings estimates for Nabors Industries in a research note issued on Thursday, October 31st. Piper Jaffray Companies analyst J. Watson now anticipates that the oil and gas company will post earnings per share of ($0.19) for the quarter, down from their prior estimate of ($0.18). Piper Jaffray Companies also issued estimates for Nabors Industries’ Q2 2020 earnings at ($0.20) EPS, Q3 2020 earnings at ($0.18) EPS, Q4 2020 earnings at ($0.18) EPS, FY2020 earnings at ($0.75) EPS, Q1 2021 earnings at ($0.18) EPS, Q2 2021 earnings at ($0.17) EPS and Q3 2021 earnings at ($0.14) EPS.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.09). Nabors Industries had a negative net margin of 20.02% and a negative return on equity of 16.80%. The company had revenue of $758.08 million for the quarter, compared to analysts’ expectations of $777.69 million. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. The company’s revenue was down 2.7% on a year-over-year basis.
Nabors Industries stock opened at $2.05 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.02 and a debt-to-equity ratio of 1.50. Nabors Industries has a 12 month low of $1.50 and a 12 month high of $5.82. The company’s fifty day simple moving average is $1.89 and its 200-day simple moving average is $2.44. The stock has a market cap of $672.40 million, a P/E ratio of -1.63 and a beta of 2.69.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Nabors Industries by 21.5% during the 2nd quarter. BlackRock Inc. now owns 51,225,062 shares of the oil and gas company’s stock worth $148,552,000 after acquiring an additional 9,051,668 shares during the last quarter. Vanguard Group Inc. lifted its position in Nabors Industries by 5.5% during the 2nd quarter. Vanguard Group Inc. now owns 38,290,061 shares of the oil and gas company’s stock worth $111,040,000 after acquiring an additional 2,009,353 shares during the last quarter. Cooperman Leon G lifted its position in Nabors Industries by 36.5% during the 2nd quarter. Cooperman Leon G now owns 12,950,000 shares of the oil and gas company’s stock worth $37,555,000 after acquiring an additional 3,465,702 shares during the last quarter. Van ECK Associates Corp lifted its position in Nabors Industries by 20.6% during the 2nd quarter. Van ECK Associates Corp now owns 9,037,598 shares of the oil and gas company’s stock worth $26,209,000 after acquiring an additional 1,544,961 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Nabors Industries by 3,556.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,356,847 shares of the oil and gas company’s stock worth $14,356,000 after acquiring an additional 5,210,331 shares during the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Tanya S. Beder bought 50,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $2.31 per share, with a total value of $115,500.00. Following the transaction, the director now directly owns 219,409 shares in the company, valued at $506,834.79. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.02% of the stock is currently owned by insiders.
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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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