Nabors Industries Ltd. (NYSE:NBR) announced a quarterly dividend on Tuesday, November 6th, Zacks reports. Shareholders of record on Thursday, December 13th will be paid a dividend of 0.06 per share by the oil and gas company on Thursday, January 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date is Wednesday, December 12th.

Nabors Industries has increased its dividend payment by an average of 6.3% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Nabors Industries has a payout ratio of -23.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Nabors Industries to earn ($0.34) per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of -70.6%.

Shares of NBR opened at $3.06 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 1.26. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -1.88 and a beta of 1.65. Nabors Industries has a 12 month low of $2.85 and a 12 month high of $8.86.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) EPS 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 the consensus estimate of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted ($0.42) EPS. As a group, sell-side analysts predict that Nabors Industries will post -1.22 EPS for the current year.

In related news, Director John P. Kotts acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were bought at an average price of $5.61 per share, with a total value of $561,000.00. Following the transaction, the director now directly owns 301,949 shares of the company’s stock, valued at $1,693,933.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Yearwood acquired 197,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were bought 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. 4.15% of the stock is owned by corporate insiders.

A number of research firms have recently issued reports on NBR. Guggenheim reissued a “buy” rating and set a $11.00 price objective on shares of Nabors Industries in a research report on Friday, October 12th. Jefferies Financial Group reissued a “buy” rating and set a $8.00 price objective on shares of Nabors Industries in a research report on Tuesday, November 6th. Bank of America began coverage on shares of Nabors Industries in a research report on Wednesday, October 17th. They set a “buy” rating on the stock. Wolfe Research began coverage on shares of Nabors Industries in a research report on Wednesday, October 10th. They set an “outperform” rating on the stock. Finally, Piper Jaffray Companies set a $7.00 price objective on shares of Nabors Industries and gave the stock a “hold” rating in a research report on Thursday, November 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $8.96.

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

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Dividend History for Nabors Industries (NYSE:NBR)

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