Nabors Industries Ltd. (NBR) Lifted to Overweight at Capital One Financial Corp.
Capital One Financial Corp. upgraded shares of Nabors Industries Ltd. (NYSE:NBR) from an equal weight rating to an overweight rating in a research report report published on Monday. Capital One Financial Corp. currently has $13.00 price target on the stock.
A number of other equities research analysts also recently weighed in on the company. DA Davidson began coverage on Nabors Industries in a report on Thursday, September 15th. They issued a buy rating and a $16.00 price target for the company. Zacks Investment Research downgraded Nabors Industries from a buy rating to a hold rating in a report on Tuesday, September 13th. Citigroup Inc. boosted their price target on Nabors Industries from $12.00 to $13.00 and gave the company a buy rating in a report on Monday, September 12th. Nomura set a $8.00 price target on Nabors Industries and gave the company a hold rating in a report on Tuesday, August 16th. Finally, Simmons restated a neutral rating and set a $12.50 price objective (up from $12.25) on shares of Nabors Industries in a research note on Monday, August 8th. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Nabors Industries currently has an average rating of Buy and an average target price of $11.42.
Shares of Nabors Industries (NYSE:NBR) opened at 10.04 on Monday. Nabors Industries has a 12-month low of $4.93 and a 12-month high of $12.33. The firm’s market cap is $2.85 billion. The firm has a 50-day moving average price of $9.88 and a 200-day moving average price of $9.49.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.19. Nabors Industries had a negative return on equity of 6.31% and a negative net margin of 39.78%. The business earned $571.60 million during the quarter, compared to the consensus estimate of $497.83 million. During the same period in the previous year, the business earned ($0.14) EPS. The business’s quarterly revenue was down 40.1% on a year-over-year basis. On average, equities research analysts expect that Nabors Industries will post ($1.22) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Tuesday, September 13th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, September 9th. Nabors Industries’s payout ratio is -6.56%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Shoker Investment Counsel Inc. raised its position in Nabors Industries by 0.4% in the second quarter. Shoker Investment Counsel Inc. now owns 26,957 shares of the company’s stock valued at $270,000 after buying an additional 119 shares during the last quarter. World Asset Management Inc raised its position in Nabors Industries by 3.3% in the second quarter. World Asset Management Inc now owns 19,609 shares of the company’s stock valued at $197,000 after buying an additional 622 shares during the last quarter. State Treasurer State of Michigan raised its position in Nabors Industries by 0.7% in the second quarter. State Treasurer State of Michigan now owns 113,163 shares of the company’s stock valued at $1,137,000 after buying an additional 800 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Nabors Industries by 3.8% in the second quarter. Commonwealth Equity Services Inc now owns 36,313 shares of the company’s stock valued at $365,000 after buying an additional 1,341 shares during the last quarter. Finally, Oak Associates Ltd. OH raised its position in Nabors Industries by 0.8% in the first quarter. Oak Associates Ltd. OH now owns 217,410 shares of the company’s stock valued at $2,000,000 after buying an additional 1,800 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
Nabors Industries Company Profile
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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