Nabors Industries Ltd. (NYSE:NBR) traded up 9.6% on Thursday . The company traded as high as $2.31 and last traded at $2.29. 14,944,916 shares were traded during trading, an increase of 22% from the average session volume of 12,288,949 shares. The stock had previously closed at $2.09.
A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Goldman Sachs Group assumed coverage on shares of Nabors Industries in a report on Sunday, March 10th. They set a “neutral” rating and a $4.00 price objective on the stock. Societe Generale set a $4.00 price objective on shares of Nabors Industries and gave the company a “buy” rating in a report on Thursday, February 28th. Citigroup dropped their price objective on shares of Nabors Industries from $8.00 to $6.70 and set a “buy” rating on the stock in a report on Tuesday, March 12th. Finally, Argus lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Nabors Industries currently has an average rating of “Hold” and an average target price of $7.13.
The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.39.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Nabors Industries had a negative net margin of 19.68% and a negative return on equity of 14.79%. The business had revenue of $809.31 million during the quarter, compared to analysts’ expectations of $774.35 million. During the same period in the previous year, the company posted ($0.46) earnings per share. Nabors Industries’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts forecast that Nabors Industries Ltd. will post -0.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, June 10th. Nabors Industries’s payout ratio is -3.17%.
Large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its holdings in Nabors Industries by 921.4% in the first quarter. Versant Capital Management Inc now owns 7,579 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 6,837 shares during the last quarter. Fiera Capital Corp purchased a new stake in Nabors Industries in the first quarter valued at $39,000. Traynor Capital Management Inc. purchased a new stake in Nabors Industries in the first quarter valued at $39,000. Blueshift Asset Management LLC purchased a new stake in Nabors Industries in the first quarter valued at $41,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Nabors Industries in the fourth quarter valued at $25,000. 84.14% of the stock is currently owned by institutional investors.
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About Nabors Industries (NYSE:NBR)
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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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