Nabors Industries Ltd. (NYSE:NBR) announced a quarterly dividend on Thursday, December 5th, Wall Street Journal reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.01 per share by the oil and gas company on Friday, January 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 12th.

Shares of NYSE NBR traded up $0.22 during midday trading on Friday, hitting $2.31. 5,081,765 shares of the company traded hands, compared to its average volume of 11,940,542. Nabors Industries has a 12-month low of $1.50 and a 12-month high of $4.08. The firm has a market cap of $750.45 million, a P/E ratio of -1.83 and a beta of 2.79. The stock has a 50-day moving average price of $1.94 and a 200 day moving average price of $2.18. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.75 and a current ratio of 2.02.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.09). The company had revenue of $758.08 million during the quarter, compared to analysts’ expectations of $777.69 million. Nabors Industries had a negative return on equity of 16.80% and a negative net margin of 20.02%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.29) earnings per share. As a group, equities analysts expect that Nabors Industries will post -1.34 earnings per share for the current year.

Several brokerages have recently issued reports on NBR. Barclays reissued a “buy” rating and issued a $3.00 target price on shares of Nabors Industries in a research report on Sunday, November 3rd. Royal Bank of Canada cut Nabors Industries from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $9.00 to $3.50 in a research note on Wednesday, September 25th. Credit Suisse Group lowered Nabors Industries from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $3.25 to $2.00 in a research report on Tuesday. Bank of America cut Nabors Industries from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 28th. Finally, Citigroup decreased their price objective on Nabors Industries from $2.50 to $2.25 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.93.

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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Dividend History for Nabors Industries (NYSE:NBR)

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