Nabors Industries Ltd. (NBR) Given Average Rating of “Buy” by Analysts
Shares of Nabors Industries Ltd. (NYSE:NBR) have been given an average rating of “Buy” by the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.96.
Several research analysts have issued reports on NBR shares. Bank of America started coverage on Nabors Industries in a research report on Wednesday, October 17th. They issued a “buy” rating for the company. Guggenheim reiterated a “buy” rating and issued a $11.00 price objective on shares of Nabors Industries in a research report on Friday, October 12th. Cowen reiterated a “buy” rating and issued a $11.00 price objective on shares of Nabors Industries in a research report on Friday, October 12th. Societe Generale upgraded Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Friday, August 3rd. Finally, Seaport Global Securities restated a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a research report on Thursday, August 2nd.
NYSE:NBR traded up $0.11 during trading hours on Friday, hitting $5.23. The company’s stock had a trading volume of 586,115 shares, compared to its average volume of 13,944,653. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -3.22 and a beta of 1.69. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.84 and a current ratio of 2.05. Nabors Industries has a 52-week low of $4.49 and a 52-week high of $8.86.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Thursday, December 13th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Wednesday, December 12th. Nabors Industries’s payout ratio is -14.72%.
In other Nabors Industries news, Director John Yearwood purchased 197,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average cost of $5.14 per share, with a total value of $1,012,580.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Kotts purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average cost of $5.61 per share, for a total transaction of $561,000.00. Following the completion of the purchase, the director now owns 301,949 shares in the company, valued at approximately $1,693,933.89. The disclosure for this purchase can be found here. 4.15% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of NBR. NumerixS Investment Technologies Inc purchased a new position in shares of Nabors Industries in the 2nd quarter worth about $106,000. Signition LP purchased a new position in shares of Nabors Industries in the 2nd quarter worth about $133,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Nabors Industries in the 2nd quarter worth about $139,000. FNY Investment Advisers LLC raised its holdings in shares of Nabors Industries by 19,946.4% in the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 21,941 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Nabors Industries in the 2nd quarter worth about $191,000. 96.82% of the stock is currently owned by hedge funds and other institutional investors.
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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