Shares of Nabors Industries Ltd. (NYSE:NBR) have earned an average rating of “Hold” from the twenty analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.17.

Several equities research analysts have issued reports on NBR shares. Susquehanna Bancshares downgraded shares of Nabors Industries from a “positive” rating to a “neutral” rating in a research report on Wednesday, January 9th. Argus cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Goldman Sachs Group started coverage on shares of Nabors Industries in a report on Sunday. They set a “neutral” rating and a $4.00 target price on the stock. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Raymond James cut shares of Nabors Industries from a “strong-buy” rating to a “market perform” rating and set a $2.75 target price on the stock. in a report on Thursday, December 13th.

NBR stock traded down $0.03 during mid-day trading on Friday, hitting $3.46. 6,431,791 shares of the company were exchanged, compared to its average volume of 13,733,509. The company has a quick ratio of 1.72, a current ratio of 1.92 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $1.25 billion, a PE ratio of -2.75 and a beta of 2.29. Nabors Industries has a 1-year low of $1.81 and a 1-year high of $8.86.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, February 26th. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.38). The company had revenue of $782.08 million for the quarter, compared to analyst estimates of $805.82 million. Nabors Industries had a negative return on equity of 13.75% and a negative net margin of 21.03%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.34) earnings per share. As a group, research analysts expect that Nabors Industries will post -0.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Tuesday, March 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, March 11th. This represents a $0.04 annualized dividend and a dividend yield of 1.16%. Nabors Industries’s dividend payout ratio is presently -3.17%.

A number of large investors have recently made changes to their positions in NBR. BlackRock Inc. increased its stake in Nabors Industries by 43.5% in the fourth quarter. BlackRock Inc. now owns 42,020,803 shares of the oil and gas company’s stock valued at $84,041,000 after acquiring an additional 12,741,524 shares during the last quarter. Norges Bank bought a new position in Nabors Industries in the fourth quarter valued at approximately $7,534,000. Perella Weinberg Partners Capital Management LP increased its stake in Nabors Industries by 5,083.2% in the fourth quarter. Perella Weinberg Partners Capital Management LP now owns 2,558,594 shares of the oil and gas company’s stock valued at $5,117,000 after acquiring an additional 2,509,231 shares during the last quarter. Two Sigma Investments LP increased its stake in Nabors Industries by 23,545.7% in the fourth quarter. Two Sigma Investments LP now owns 2,364,566 shares of the oil and gas company’s stock valued at $4,729,000 after acquiring an additional 2,354,566 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Nabors Industries by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,443,173 shares of the oil and gas company’s stock valued at $58,887,000 after acquiring an additional 2,289,996 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

About Nabors Industries

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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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