Nabors Industries Ltd. (NBR) Stock Price Up 3.2%
Nabors Industries Ltd. (NYSE:NBR) rose 3.2% on Tuesday . The company traded as high as $10.26 and last traded at $10.25, with a volume of 4,032,007 shares trading hands. The stock had previously closed at $9.93.
NBR has been the subject of a number of research reports. Cowen and Company reissued an “outperform” rating and issued a $11.00 price target (up from $8.75) on shares of Nabors Industries in a research report on Wednesday, April 27th. GMP Securities raised shares of Nabors Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, April 27th. Raymond James Financial Inc. raised shares of Nabors Industries from an “outperform” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research report on Wednesday, April 27th. Morgan Stanley reissued an “overweight” rating and issued a $17.00 price target (up from $16.50) on shares of Nabors Industries in a research report on Wednesday, April 27th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Nabors Industries in a research report on Wednesday, April 27th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.22.
The stock’s 50-day moving average is $9.55 and its 200 day moving average is $9.04. The stock’s market cap is $2.91 billion.
Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.19. The company had revenue of $571.60 million for the quarter, compared to the consensus estimate of $497.83 million. The firm’s quarterly revenue was down 40.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. On average, analysts forecast that Nabors Industries Ltd. will post ($1.17) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.34%.
A hedge fund recently raised its stake in Nabors Industries stock. Dimensional Fund Advisors LP increased its position in Nabors Industries Ltd. (NYSE:NBR) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,966,031 shares of the company’s stock after buying an additional 204,777 shares during the period. Dimensional Fund Advisors LP owned about 2.11% of Nabors Industries worth $59,276,000 at the end of the most recent 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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