Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus rating of “Buy” from the twenty-one analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.18.

Several equities research analysts recently weighed in on NBR shares. Citigroup lifted their price objective on Nabors Industries to $9.50 and gave the stock a “buy” rating in a report on Tuesday, May 8th. ValuEngine raised Nabors Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, June 2nd. Wells Fargo & Co raised Nabors Industries from a “market perform” rating to an “outperform” rating and set a $8.00 price objective for the company in a report on Friday, June 29th. Morgan Stanley raised Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a report on Thursday, July 12th. Finally, BMO Capital Markets set a $8.00 price objective on Nabors Industries and gave the stock a “hold” rating in a report on Thursday, July 12th.

NYSE NBR opened at $6.09 on Tuesday. The firm has a market cap of $2.14 billion, a PE ratio of -3.74 and a beta of 1.58. Nabors Industries has a one year low of $5.32 and a one year high of $8.86. The company has a current ratio of 2.04, a quick ratio of 1.84 and a debt-to-equity ratio of 1.24.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.15). The business had revenue of $761.92 million for the quarter, compared to the consensus estimate of $755.76 million. Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. sell-side analysts forecast that Nabors Industries will post -0.97 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Monday, September 10th. Nabors Industries’s payout ratio is presently -14.72%.

A number of hedge funds have recently bought and sold shares of the business. Energy Opportunities Capital Management LLC grew its holdings in Nabors Industries by 23.1% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 279,617 shares of the oil and gas company’s stock valued at $1,792,000 after buying an additional 52,500 shares in the last quarter. Miller Value Partners LLC grew its holdings in Nabors Industries by 25.5% during the 2nd quarter. Miller Value Partners LLC now owns 87,900 shares of the oil and gas company’s stock valued at $563,000 after buying an additional 17,870 shares in the last quarter. PVG Asset Management Corp purchased a new position in Nabors Industries during the 2nd quarter valued at about $2,397,000. SCP Investment LP grew its holdings in Nabors Industries by 4.5% during the 2nd quarter. SCP Investment LP now owns 230,000 shares of the oil and gas company’s stock valued at $1,474,000 after buying an additional 10,000 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in Nabors Industries by 12.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 221,497 shares of the oil and gas company’s stock valued at $1,420,000 after buying an additional 24,584 shares in the last quarter. 91.33% of the stock is 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., Canada, International, 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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