Deutsche Bank AG began coverage on shares of Nabors Industries Ltd. (NYSE:NBR) in a research note released on Tuesday, October 10th, MarketBeat.com reports. The brokerage issued a hold rating and a $9.00 price objective on the oil and gas company’s stock.
Other equities analysts have also issued research reports about the stock. UBS AG restated a buy rating and set a $11.00 price objective (down previously from $17.00) on shares of Nabors Industries in a research report on Thursday, July 6th. Royal Bank Of Canada restated a buy rating on shares of Nabors Industries in a research report on Tuesday, June 20th. Nomura set a $12.00 target price on shares of Nabors Industries and gave the stock a buy rating in a report on Wednesday, August 9th. Credit Suisse Group set a $9.00 target price on shares of Nabors Industries and gave the stock a buy rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Guggenheim upgraded shares of Nabors Industries from a neutral rating to a buy rating and set a $10.00 target price for the company in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. Nabors Industries has a consensus rating of Buy and an average target price of $12.07.
Shares of Nabors Industries (NYSE:NBR) traded down 2.33% during trading on Tuesday, hitting $6.70. The stock had a trading volume of 6,378,382 shares. The stock’s 50 day moving average price is $7.45 and its 200-day moving average price is $8.53. Nabors Industries has a one year low of $6.18 and a one year high of $18.40. The stock’s market cap is $1.91 billion.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. During the same quarter last year, the business posted ($0.35) EPS. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts expect that Nabors Industries will post ($1.49) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, September 11th. Nabors Industries’s payout ratio is presently -9.41%.
A number of institutional investors and hedge funds have recently modified their holdings of NBR. Bollard Group LLC raised its position in shares of Nabors Industries by 1.2% in the second quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock valued at $2,541,000 after purchasing an additional 3,816 shares during the period. Mitchell Group Inc. raised its position in shares of Nabors Industries by 52.0% in the second quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock valued at $22,015,000 after purchasing an additional 925,140 shares during the period. Paloma Partners Management Co raised its position in shares of Nabors Industries by 117.2% in the first quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock valued at $901,000 after purchasing an additional 37,175 shares during the period. Teacher Retirement System of Texas raised its position in shares of Nabors Industries by 4.3% in the second quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 979 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Nabors Industries by 1.5% in the second quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock valued at $981,000 after purchasing an additional 1,800 shares during the period. 95.55% of the stock is currently owned by hedge funds and other institutional investors.
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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