Shares of Nabors Industries Ltd. (NYSE:NBR) were down 3.2% during trading on Tuesday . The stock traded as low as $9.43 and last traded at $9.52, with a volume of 4,002,880 shares traded. The stock had previously closed at $9.83.

Several analysts have recently commented on NBR shares. Morgan Stanley raised their target price on Nabors Industries from $13.00 to $16.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. Scotiabank raised Nabors Industries from a “sector perform” rating to an “outperform” rating in a research report on Monday, March 28th. Seaport Global Securities raised Nabors Industries from a “neutral” rating to a “buy” rating in a research report on Friday, July 8th. Howard Weil raised Nabors Industries from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, March 28th. Finally, Nomura Holdings Inc. reaffirmed a “hold” rating and issued a $8.00 target price on shares of Nabors Industries in a research report on Sunday, May 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.98.

The firm’s 50 day moving average price is $9.99 and its 200-day moving average price is $8.57. The company’s market cap is $2.69 billion.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Monday, April 25th. The company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. During the same period in the prior year, the firm earned $0.20 EPS. The company earned $597.60 million during the quarter, compared to analysts’ expectations of $630.81 million. Nabors Industries’s quarterly revenue was down 57.8% on a year-over-year basis. On average, analysts predict that Nabors Industries Ltd. will post ($1.58) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.24 dividend on an annualized basis and a yield of 2.52%.

In related news, Director Howard Wolf purchased 15,000 shares of the business’s stock in a transaction on Thursday, April 28th. The stock was acquired at an average price of $9.78 per share, with a total value of $146,700.00. Following the purchase, the director now directly owns 79,000 shares in the company, valued at $772,620. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of institutional investors recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Nabors Industries by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,966,031 shares of the company’s stock worth $59,276,000 after buying an additional 204,777 shares in the last quarter. Trexquant Investment LP boosted its position in Nabors Industries by 314.5% in the fourth quarter. Trexquant Investment LP now owns 309,240 shares of the company’s stock worth $2,632,000 after buying an additional 234,640 shares in the last quarter. Systematic Financial Management LP boosted its position in Nabors Industries by 22.5% in the fourth quarter. Systematic Financial Management LP now owns 1,445,711 shares of the company’s stock worth $12,303,000 after buying an additional 265,516 shares in the last quarter. Turner Investments L.P. boosted its position in Nabors Industries by 48.2% in the fourth quarter. Turner Investments L.P. now owns 583,300 shares of the company’s stock worth $4,964,000 after buying an additional 189,580 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Nabors Industries by 49.9% in the fourth quarter. Bank of Montreal Can now owns 475,040 shares of the company’s stock worth $4,041,000 after buying an additional 158,059 shares in the last quarter.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

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