Nabors Industries Ltd. (NBR) Shares Gap Up to $6.61
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.
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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.
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