BMO Capital Markets Analysts Give Nabors Industries Ltd. (NBR) a $6.00 Price Target

BMO Capital Markets set a $6.00 price objective on Nabors Industries Ltd. (NYSE:NBR) in a report released on Friday. The firm currently has a hold rating on the oil and gas company’s stock.

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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