Nabors Industries Ltd. (NYSE:NBR) gapped up prior to trading on Tuesday . The stock had previously closed at $6.44, but opened at $6.61. Nabors Industries shares last traded at $6.90, with a volume of 8,486,216 shares trading hands.

Several equities research analysts have recently weighed in on NBR shares. Citigroup Inc. reissued a “buy” rating on shares of Nabors Industries in a research note on Wednesday, May 10th. Zacks Investment Research cut Nabors Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday, May 27th. Wells Fargo & Company cut Nabors Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, July 7th. Finally, BidaskClub cut Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $13.71.

The company’s 50 day moving average price is $7.12 and its 200 day moving average price is $9.98. The stock’s market capitalization is $1.97 billion.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by $0.03. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The firm had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $589.79 million. During the same quarter last year, the company posted ($0.35) EPS. The firm’s revenue was up 21.9% on a year-over-year basis. Equities analysts expect that Nabors Industries Ltd. will post ($1.50) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.48%. Nabors Industries’s dividend payout ratio (DPR) is -9.41%.

Institutional investors have recently bought and sold shares of the stock. Wright Investors Service Inc. grew its stake in shares of Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after buying an additional 265 shares during the last quarter. Frontier Wealth Management LLC grew its stake in shares of Nabors Industries by 11.4% in the 2nd quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after buying an additional 1,284 shares during the last quarter. Invictus RG purchased a new stake in shares of Nabors Industries in the 1st quarter worth approximately $109,000. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in shares of Nabors Industries by 3.3% in the 2nd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock worth $110,000 after buying an additional 435 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Nabors Industries by 6.0% in the 2nd quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after buying an additional 925 shares during the last quarter. Institutional investors own 95.60% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.dailypolitical.com/2017/09/05/nabors-industries-ltd-nbr-shares-gap-up-to-6-61.html.

Nabors Industries Company Profile

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.