Stock Traders Purchase Large Volume of Put Options on Nabors Industries (NBR)

Nabors Industries Ltd. (NYSE:NBR) was the target of some unusual options trading on Thursday. Stock traders bought 5,574 put options on the company. This represents an increase of approximately 960% compared to the average daily volume of 526 put options.

Nabors Industries (NYSE NBR) opened at $8.19 on Friday. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $18.38. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $2,340.00, a PE ratio of -3.06 and a beta of 1.59.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (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 business had revenue of $662.50 million during the quarter, compared to analyst estimates of $674.03 million. During the same period in the previous year, the firm posted ($0.55) earnings per share. The firm’s revenue was up 27.4% on a year-over-year basis. equities research analysts predict that Nabors Industries will post -1.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 2.93%. Nabors Industries’s dividend payout ratio is currently -8.96%.

Several hedge funds have recently bought and sold shares of NBR. Prudential Financial Inc. boosted its position in shares of Nabors Industries by 278.9% during the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after buying an additional 2,915,370 shares during the period. Victory Capital Management Inc. boosted its position in shares of Nabors Industries by 101.4% during the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock worth $37,751,000 after buying an additional 2,354,975 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Nabors Industries by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after buying an additional 2,243,068 shares during the period. FMR LLC boosted its position in shares of Nabors Industries by 33.3% during the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after buying an additional 2,118,198 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Nabors Industries by 47.5% during the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock worth $32,637,000 after buying an additional 1,302,284 shares during the period. 87.63% of the stock is owned by institutional investors.

NBR has been the subject of a number of recent analyst reports. Deutsche Bank initiated coverage on Nabors Industries in a report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price objective for the company. Zacks Investment Research downgraded Nabors Industries from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Cowen set a $11.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Wednesday, October 18th. Credit Suisse Group set a $8.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, Royal Bank of Canada set a $8.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $10.75.

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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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