Jefferies Financial Group reiterated their buy rating on shares of Nabors Industries (NYSE:NBR) in a research note released on Tuesday morning. Jefferies Financial Group currently has a $8.00 price objective on the oil and gas company’s stock. Jefferies Financial Group also issued estimates for Nabors Industries’ FY2020 earnings at $0.35 EPS, FY2021 earnings at $0.75 EPS and FY2022 earnings at $1.10 EPS.
NBR has been the topic of a number of other reports. Citigroup reduced their price objective on shares of Nabors Industries from $10.00 to $9.00 and set a buy rating on the stock in a research note on Wednesday, July 11th. ValuEngine upgraded shares of Nabors Industries from a strong sell rating to a sell rating in a research note on Thursday, August 2nd. Morgan Stanley upgraded shares of Nabors Industries from an equal weight rating to an overweight rating and set a $9.00 price objective on the stock in a research note on Thursday, July 12th. Guggenheim reiterated a buy rating and set a $11.00 price objective on shares of Nabors Industries in a research note on Friday, October 12th. Finally, Seaport Global Securities reiterated a buy rating and set a $11.00 price objective on shares of Nabors Industries in a research note on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $8.96.
NBR traded up $0.08 during trading hours on Tuesday, reaching $5.20. 465,079 shares of the stock traded hands, compared to its average volume of 13,944,653. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -3.19 and a beta of 1.69. Nabors Industries has a fifty-two week low of $4.49 and a fifty-two week high of $8.86. The company has a current ratio of 2.05, a quick ratio of 1.84 and a debt-to-equity ratio of 1.26.
Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). The firm had revenue of $779.43 million for the quarter, compared to analyst estimates of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. Nabors Industries’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.42) earnings per share. On average, analysts forecast that Nabors Industries will post -1.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th will be given a $0.06 dividend. The ex-dividend date is Wednesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.62%. Nabors Industries’s payout ratio is currently -14.72%.
In other news, Director John P. Kotts acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $5.61 per share, with a total value of $561,000.00. Following the acquisition, the director now directly owns 301,949 shares in the company, valued at $1,693,933.89. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Yearwood acquired 197,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average cost of $5.14 per share, for a total transaction of $1,012,580.00. The disclosure for this purchase can be found here. Company insiders own 4.15% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc acquired a new stake in shares of Nabors Industries in the 2nd quarter worth about $106,000. Signition LP acquired a new position in Nabors Industries during the 2nd quarter valued at about $133,000. FNY Investment Advisers LLC increased its stake in Nabors Industries by 19,946.4% during the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 21,941 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Nabors Industries during the 2nd quarter valued at about $139,000. Finally, Vanguard Capital Wealth Advisors increased its stake in Nabors Industries by 147.1% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 29,900 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 17,800 shares during the period. 96.82% of the stock is currently owned by institutional investors and hedge funds.
Nabors Industries Company Profile
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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