Nabors Industries Ltd. (NBR) Stock Price Down 3.8%
Nabors Industries Ltd. (NYSE:NBR) shares fell 3.8% during mid-day trading on Wednesday . The stock traded as low as $9.07 and last traded at $9.08, with a volume of 3,487,605 shares traded. The stock had previously closed at $9.44.
Several brokerages recently issued reports on NBR. Stephens upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 12th. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating in a research report on Friday, July 8th. Credit Suisse Group AG downgraded Nabors Industries from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $9.00 in a research report on Wednesday, June 1st. Nomura restated a “hold” rating and set a $8.00 price objective on shares of Nabors Industries in a research report on Sunday, May 15th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Nabors Industries in a research report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $10.98.
The stock’s 50 day moving average price is $9.93 and its 200 day moving average price is $8.64. The company’s market cap is $2.57 billion.
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 10th were given 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 2.63%.
In related news, Director Howard Wolf bought 15,000 shares of the business’s stock in a transaction on Thursday, April 28th. The stock was bought at an average price of $9.78 per share, for a total transaction of $146,700.00. Following the transaction, the director now directly owns 79,000 shares in the company, valued at $772,620. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Other large investors recently added to or reduced their stakes in the company. Trexquant Investment LP increased its stake 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 during the last quarter. Airain ltd increased its stake in Nabors Industries by 615.0% in the fourth quarter. Airain ltd now owns 404,383 shares of the company’s stock worth $3,441,000 after buying an additional 347,822 shares during the last quarter. Rhumbline Advisers increased its stake in Nabors Industries by 0.8% in the fourth quarter. Rhumbline Advisers now owns 472,555 shares of the company’s stock worth $4,021,000 after buying an additional 3,791 shares during the last quarter. Bank of Montreal Can increased its stake 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 during the last quarter. Finally, First Trust Advisors LP increased its stake in Nabors Industries by 48.4% in the fourth quarter. First Trust Advisors LP now owns 570,708 shares of the company’s stock worth $4,857,000 after buying an additional 186,078 shares during 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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