Nabors Industries (NYSE:NBR) saw a large drop in short interest during the month of March. As of March 29th, there was short interest totalling 39,716,746 shares, a drop of 11.3% from the March 15th total of 44,752,414 shares. Based on an average daily trading volume, of 8,024,092 shares, the days-to-cover ratio is presently 4.9 days. Approximately 14.0% of the shares of the company are short sold.
A number of research firms have issued reports on NBR. Seaport Global Securities reissued a “buy” rating and set a $13.00 price target on shares of Nabors Industries in a research report on Thursday, January 18th. JPMorgan Chase lowered shares of Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price target for the company. in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. ValuEngine lowered shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Cowen set a $9.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.14.
A number of institutional investors have recently added to or reduced their stakes in NBR. Legal & General Group Plc grew its stake in Nabors Industries by 5.3% in the 3rd quarter. Legal & General Group Plc now owns 603,824 shares of the oil and gas company’s stock valued at $4,873,000 after acquiring an additional 30,269 shares during the period. Wells Fargo & Company MN grew its stake in Nabors Industries by 22.7% in the 3rd quarter. Wells Fargo & Company MN now owns 866,154 shares of the oil and gas company’s stock valued at $6,990,000 after acquiring an additional 160,248 shares during the period. Stifel Financial Corp acquired a new stake in Nabors Industries in the 3rd quarter valued at $1,837,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in Nabors Industries in the 3rd quarter valued at $353,000. Finally, Cubist Systematic Strategies LLC grew its stake in Nabors Industries by 1,921.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 100,889 shares of the oil and gas company’s stock valued at $814,000 after acquiring an additional 95,897 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE NBR opened at $7.59 on Wednesday. The company has a market cap of $2,391.78, a PE ratio of -4.66 and a beta of 1.60. Nabors Industries has a 12 month low of $5.32 and a 12 month high of $12.94. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.39 and a current ratio of 1.57.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Nabors Industries had a negative return on equity of 15.56% and a negative net margin of 21.32%. The firm had revenue of $708.28 million for the quarter, compared to analyst estimates of $706.35 million. During the same period in the previous year, the business earned ($0.30) EPS. Nabors Industries’s revenue for the quarter was up 31.4% compared to the same quarter last year. analysts forecast that Nabors Industries will post -0.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Tuesday, March 13th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.16%. Nabors Industries’s dividend payout ratio is currently -14.72%.
ILLEGAL ACTIVITY NOTICE: This piece was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/04/18/nabors-industries-nbr-short-interest-update.html.
Nabors Industries Company Profile
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., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.