Other equities research analysts have also issued reports about the stock. Tudor Pickering upgraded shares of Nabors Industries from a hold rating to a buy rating in a research report on Tuesday, November 29th. Stephens lowered shares of Nabors Industries from an overweight rating to a hold rating and set a $16.00 price objective on the stock. in a research report on Wednesday, December 7th. Evercore ISI began coverage on shares of Nabors Industries in a research report on Wednesday, February 22nd. They issued a buy rating and a $20.00 price objective on the stock. Sanford C. Bernstein began coverage on shares of Nabors Industries in a research report on Thursday, December 1st. They issued an outperform rating and a $19.50 price objective on the stock. Finally, Credit Suisse Group AG upgraded shares of Nabors Industries from a neutral rating to an outperform rating and boosted their price objective for the stock from $12.00 to $21.00 in a research report on Wednesday, January 4th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $16.20.
Nabors Industries (NYSE:NBR) opened at 12.05 on Wednesday. Nabors Industries has a 52 week low of $7.61 and a 52 week high of $18.40. The stock’s market cap is $3.44 billion. The firm’s 50-day moving average is $14.51 and its 200 day moving average is $14.16.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. Nabors Industries had a negative net margin of 36.84% and a negative return on equity of 8.04%. The business had revenue of $539.20 million for the quarter, compared to analyst estimates of $543.04 million. During the same period in the previous year, the firm earned ($0.22) EPS. The business’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities research analysts expect that Nabors Industries will post ($0.95) EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Tuesday, March 14th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, March 10th. Nabors Industries’s dividend payout ratio is currently -7.92%.
Several hedge funds and other institutional investors have recently bought and sold shares of NBR. Carlton Hofferkamp & Jenks Wealth Management LLC bought a new position in Nabors Industries during the third quarter worth approximately $159,000. Sippican Capital Advisors increased its position in Nabors Industries by 4.2% in the third quarter. Sippican Capital Advisors now owns 147,272 shares of the company’s stock worth $1,791,000 after buying an additional 5,915 shares in the last quarter. Oakbrook Investments LLC increased its position in Nabors Industries by 1.6% in the third quarter. Oakbrook Investments LLC now owns 26,000 shares of the company’s stock worth $316,000 after buying an additional 400 shares in the last quarter. Parkwood LLC bought a new position in Nabors Industries during the third quarter worth approximately $1,150,000. Finally, Bollard Group LLC increased its position in Nabors Industries by 0.5% in the third quarter. Bollard Group LLC now owns 263,369 shares of the company’s stock worth $3,203,000 after buying an additional 1,328 shares in the last quarter. 93.88% of the stock is owned by institutional investors.
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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