Nabors Industries (NBR) Short Interest Update

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.

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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%.

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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.

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