Nabors Industries Ltd. (NYSE:NBR) has received an average rating of “Buy” from the twenty-six ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $11.07.
A number of equities research analysts recently weighed in on the company. UBS lowered their price target on Nabors Industries from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, October 27th. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Citigroup set a $10.00 price target on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 5th. Piper Jaffray Companies restated a “hold” rating and issued a $9.50 price target on shares of Nabors Industries in a report on Friday, October 27th. Finally, Cowen set a $9.00 price target on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 26th.
Several institutional investors have recently modified their holdings of NBR. Prudential Financial Inc. lifted its stake in shares of Nabors Industries by 278.9% during the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after purchasing an additional 2,915,370 shares during the period. Sirios Capital Management L P lifted its stake in shares of Nabors Industries by 246.1% during the 2nd quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock worth $32,844,000 after purchasing an additional 2,869,187 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Nabors Industries by 101.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock worth $37,751,000 after purchasing an additional 2,354,975 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Nabors Industries by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock worth $133,828,000 after purchasing an additional 2,315,688 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Nabors Industries by 11.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after purchasing an additional 2,243,068 shares during the period. 97.71% of the stock is currently owned by institutional investors.
Nabors Industries (NYSE:NBR) last released its 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 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 firm posted ($0.55) EPS. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. equities analysts anticipate that Nabors Industries will post -1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th 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 4.13%. The ex-dividend date of this dividend is Tuesday, December 12th. Nabors Industries’s dividend payout ratio is presently -8.96%.
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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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