Other equities research analysts have also issued research reports about the company. Morgan Stanley dropped their price target on Nabors Industries from $10.00 to $9.00 and set an equal weight rating for the company in a research note on Monday, August 7th. Cowen and Company lowered their target price on Nabors Industries from $13.00 to $10.50 and set an outperform rating for the company in a research note on Tuesday, August 8th. Seaport Global Securities raised Nabors Industries from a neutral rating to a buy rating and set a $8.00 target price for the company in a research note on Friday, August 18th. Sanford C. Bernstein reissued an outperform rating and issued a $12.50 target price on shares of Nabors Industries in a research note on Wednesday, September 6th. Finally, SunTrust Banks, Inc. reissued a buy rating and issued a $9.00 target price (down previously from $20.00) on shares of Nabors Industries in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Nabors Industries currently has a consensus rating of Buy and an average price target of $11.64.
Shares of Nabors Industries (NYSE:NBR) opened at 5.55 on Friday. The company’s market cap is $1.59 billion. The company’s 50-day moving average price is $7.32 and its 200-day moving average price is $8.13. Nabors Industries has a 12 month low of $5.32 and a 12 month high of $18.40.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The firm had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. During the same period last year, the firm earned ($0.55) EPS. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. Analysts anticipate that Nabors Industries will post ($1.58) EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.32%. Nabors Industries’s dividend payout ratio (DPR) is -8.96%.
Several hedge funds have recently bought and sold shares of NBR. UBS Asset Management Americas Inc. grew its holdings in shares of Nabors Industries by 1.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 335,523 shares of the oil and gas company’s stock worth $4,385,000 after acquiring an additional 6,122 shares during the period. OppenheimerFunds Inc. grew its holdings in shares of Nabors Industries by 112.0% during the 1st quarter. OppenheimerFunds Inc. now owns 65,917 shares of the oil and gas company’s stock worth $862,000 after acquiring an additional 34,831 shares during the period. Wellington Management Group LLP grew its holdings in shares of Nabors Industries by 112.9% during the 1st quarter. Wellington Management Group LLP now owns 531,026 shares of the oil and gas company’s stock worth $6,941,000 after acquiring an additional 281,641 shares during the period. Vanguard Group Inc. grew its holdings in shares of Nabors Industries by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 22,565,265 shares of the oil and gas company’s stock worth $294,929,000 after acquiring an additional 1,035,970 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Nabors Industries by 10.0% during the 1st quarter. Geode Capital Management LLC now owns 2,214,794 shares of the oil and gas company’s stock worth $28,946,000 after acquiring an additional 201,951 shares during the period. Hedge funds and other institutional investors own 95.77% of the company’s stock.
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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