BMO Capital Markets set a $6.00 price objective on Nabors Industries Ltd. (NYSE:NBR) in a report released on Friday, October 27th. The brokerage currently has a hold rating on the oil and gas company’s stock.
A number of other analysts have also issued reports on the company. Piper Jaffray Companies reissued a hold rating and issued a $9.50 price target on shares of Nabors Industries in a research note on Friday, October 27th. Credit Suisse Group set a $8.00 price target on Nabors Industries and gave the stock a buy rating in a research note on Thursday, October 26th. Morgan Stanley cut their price objective on Nabors Industries from $9.00 to $8.50 and set an equal weight rating on the stock in a report on Thursday, October 26th. Cowen and Company cut their price objective on Nabors Industries from $10.50 to $8.50 and set an outperform rating on the stock in a report on Thursday, October 26th. Finally, Deutsche Bank AG started coverage on Nabors Industries in a report on Tuesday, October 10th. They issued a hold rating and a $9.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $11.52.
Shares of Nabors Industries (NYSE NBR) opened at $6.40 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.22 and a debt-to-equity ratio of 1.35. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $18.40.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The company had revenue of $662.50 million for the quarter, compared to analyst estimates of $674.03 million. During the same period in the previous year, the business earned ($0.55) EPS. The firm’s revenue was up 27.4% on a year-over-year basis. analysts anticipate that Nabors Industries will post -1.61 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.75%. Nabors Industries’s dividend payout ratio is currently -8.96%.
A number of large investors have recently added to or reduced their stakes in NBR. BlackRock Inc. boosted its position in Nabors Industries by 7,474.6% during the 1st quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after purchasing an additional 24,486,309 shares during the period. Prudential Financial Inc. boosted its position in Nabors Industries by 278.9% during the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after purchasing an additional 2,915,370 shares during the period. Sirios Capital Management L P boosted its position in Nabors Industries by 246.1% during the 2nd quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock valued at $32,844,000 after purchasing an additional 2,869,187 shares during the period. Victory Capital Management Inc. boosted its position in Nabors Industries by 101.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after purchasing an additional 2,354,975 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Nabors Industries by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock valued at $133,828,000 after purchasing an additional 2,315,688 shares during the period. Institutional investors and hedge funds own 96.45% of the company’s stock.
About Nabors Industries
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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