Nabors Industries Ltd. (NYSE:NBR) saw a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 46,536,266 shares, a decrease of 10.5% from the December 15th total of 52,018,175 shares. Approximately 16.2% of the company’s stock are sold short. Based on an average daily volume of 9,965,643 shares, the short-interest ratio is currently 4.7 days.

Several institutional investors and hedge funds have recently bought and sold shares of NBR. Prudential Financial Inc. increased its stake in shares of Nabors Industries by 278.9% in the third 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 in the last quarter. Victory Capital Management Inc. increased its stake in shares of Nabors Industries by 101.4% in the third 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Nabors Industries by 11.7% in the third 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 in the last quarter. FMR LLC increased its stake in shares of Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after purchasing an additional 2,118,198 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Nabors Industries by 47.5% in the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock worth $32,637,000 after purchasing an additional 1,302,284 shares in the last quarter. Hedge funds and other institutional investors own 87.79% of the company’s stock.

Shares of Nabors Industries (NYSE NBR) opened at $8.23 on Wednesday. Nabors Industries has a 1-year low of $5.32 and a 1-year high of $17.92. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. The stock has a market cap of $2,350.00, a PE ratio of -3.07 and a beta of 1.59.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The business had revenue of $662.50 million during the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. Nabors Industries’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.55) EPS. analysts forecast that Nabors Industries will post -1.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were paid a $0.06 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 2.92%. Nabors Industries’s payout ratio is -8.96%.

Several analysts have recently commented on NBR shares. Citigroup set a $10.00 target price on shares of Nabors Industries and gave the company a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research downgraded shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. BMO Capital Markets set a $6.00 target price on shares of Nabors Industries and gave the company a “hold” rating in a report on Friday, October 27th. Cowen set a $11.00 target price on shares of Nabors Industries and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Credit Suisse Group set a $8.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Nabors Industries presently has an average rating of “Buy” and a consensus target price of $10.75.

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About Nabors Industries

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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