Nabors Industries Ltd. (NYSE:NBR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $3.46, but opened at $3.33. Nabors Industries shares last traded at $3.20, with a volume of 8184807 shares changing hands.
Several brokerages recently weighed in on NBR. Zacks Investment Research upgraded shares of Nabors Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday. Argus lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. 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. Piper Jaffray Companies set a $7.00 price objective on shares of Nabors Industries and gave the company a “hold” rating in a report on Thursday, November 8th. Finally, Susquehanna Bancshares lowered shares of Nabors Industries from a “positive” rating to a “neutral” rating in a report on Wednesday, January 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Nabors Industries presently has an average rating of “Hold” and an average price target of $7.58.
The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 1.26. The company has a market cap of $1.11 billion, a P/E ratio of -2.54 and a beta of 2.43.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Tuesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, March 11th. Nabors Industries’s payout ratio is presently -19.05%.
Large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. bought a new stake in Nabors Industries in the fourth quarter valued at approximately $25,000. GWM Advisors LLC bought a new stake in Nabors Industries in the fourth quarter valued at approximately $27,000. Hellman Jordan Management Co. Inc. MA bought a new stake in Nabors Industries in the fourth quarter valued at approximately $28,000. M&T Bank Corp bought a new stake in Nabors Industries in the fourth quarter valued at approximately $29,000. Finally, Wetherby Asset Management Inc. bought a new stake in Nabors Industries in the fourth quarter valued at approximately $35,000. 87.21% of the stock is owned by hedge funds and other 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., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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