Nabors Industries Ltd. (NBR) Stock Price Up 3.2%
Shares of 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 topic of a number of analyst reports. Zacks Investment Research upgraded Nabors Industries from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, August 19th. Stephens upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 12th. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating in a report on Friday, July 8th. GMP Securities upgraded Nabors Industries from a “hold” rating to a “buy” rating in a report on Wednesday, April 27th. Finally, Nomura restated a “hold” rating and set a $8.00 target price on shares of Nabors Industries in a report on Sunday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Nabors Industries has a consensus rating of “Buy” and a consensus target price of $11.22.
The stock’s market cap is $2.81 billion. The stock’s 50 day moving average price is $9.57 and its 200 day moving average price is $9.07.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.19. During the same quarter in the prior year, the firm earned ($0.14) EPS. The firm had revenue of $571.60 million for the quarter, compared to the consensus estimate of $497.83 million. The company’s revenue was down 40.1% on a year-over-year basis. On average, equities research analysts expect that Nabors Industries Ltd. will post ($1.17) earnings per share for the current 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 $0.06 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.42%.
A hedge fund recently raised its stake in Nabors Industries stock. Airain ltd increased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 615.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,383 shares of the company’s stock after buying an additional 347,822 shares during the period. Airain ltd owned about 0.12% of Nabors Industries worth $3,441,000 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.