Nabors Industries Ltd. (NBR) Short Interest Up 13.6% in December

Nabors Industries Ltd. (NYSE:NBR) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 52,018,175 shares, an increase of 13.6% from the November 30th total of 45,800,984 shares. Currently, 20.3% of the shares of the company are sold short. Based on an average daily trading volume, of 11,489,251 shares, the short-interest ratio is currently 4.5 days.

Nabors Industries (NYSE NBR) opened at $6.83 on Tuesday. Nabors Industries has a 52-week low of $5.32 and a 52-week high of $18.40. The stock has a market cap of $2,169.61, a P/E ratio of -2.55 and a beta of 1.59. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $662.50 million for the quarter, compared to analyst estimates of $674.03 million. During the same quarter in the previous year, the company earned ($0.55) EPS. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. sell-side analysts expect that Nabors Industries will post -1.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.51%. Nabors Industries’s payout ratio is presently -8.96%.

Several large investors have recently made changes to their positions in the business. Utah Retirement Systems boosted its position in shares of Nabors Industries by 1.0% during the 2nd quarter. Utah Retirement Systems now owns 50,740 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 500 shares in the last quarter. M&T Bank Corp boosted its position in shares of Nabors Industries by 6.0% during the 2nd quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 925 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nabors Industries by 3.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,833 shares of the oil and gas company’s stock worth $267,000 after acquiring an additional 1,015 shares in the last quarter. Frontier Wealth Management LLC boosted its position in shares of Nabors Industries by 11.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 1,284 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Nabors Industries by 3.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 99,514 shares of the oil and gas company’s stock worth $809,000 after acquiring an additional 3,516 shares in the last quarter. Hedge funds and other institutional investors own 87.63% of the company’s stock.

A number of research analysts recently commented on NBR shares. Zacks Investment Research upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Deutsche Bank started coverage on shares of Nabors Industries in a research note on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price target on the stock. Cowen set a $11.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research note on Wednesday, October 18th. Citigroup reiterated a “buy” rating and issued a $8.00 price target (down previously from $9.00) on shares of Nabors Industries in a research note on Wednesday, September 13th. Finally, Credit Suisse Group set a $8.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Nabors Industries presently has an average rating of “Buy” and a consensus price target of $10.88.

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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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