ValuEngine lowered shares of Nabors Industries (NYSE:NBR) from a sell rating to a strong sell rating in a research note published on Sunday.

NBR has been the subject of a number of other reports. Zacks Investment Research upgraded Nabors Industries from a sell rating to a hold rating in a report on Monday, September 11th. Deutsche Bank started coverage on Nabors Industries in a report on Tuesday, October 10th. They issued a hold rating and a $9.00 price target for the company. Cowen set a $11.00 price target on Nabors Industries and gave the company a buy rating in a report on Wednesday, October 18th. Citigroup reiterated a buy rating and issued a $8.00 price target (down from $9.00) on shares of Nabors Industries in a report on Wednesday, September 13th. Finally, Credit Suisse Group set a $8.00 price target on Nabors Industries and gave the company a buy rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $10.88.

Shares of Nabors Industries (NYSE NBR) opened at $6.87 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. Nabors Industries has a twelve month low of $5.32 and a twelve month high of $18.40. The stock has a market capitalization of $1,960.00, a P/E ratio of -2.56 and a beta of 1.59.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. During the same quarter in the prior year, the firm earned ($0.55) earnings per share. Nabors Industries’s revenue for the quarter was up 27.4% compared to the same quarter last year. equities analysts anticipate that Nabors Industries will post -1.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.49%. Nabors Industries’s dividend payout ratio is currently -8.96%.

Large investors have recently added to or reduced their stakes in the stock. HAP Trading LLC boosted its position in Nabors Industries by 479.2% during the 3rd quarter. HAP Trading LLC now owns 44,361 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 56,061 shares during the period. Trexquant Investment LP acquired a new position in Nabors Industries during the 3rd quarter valued at approximately $588,000. Commonwealth Bank of Australia boosted its position in Nabors Industries by 26.6% during the 3rd quarter. Commonwealth Bank of Australia now owns 116,761 shares of the oil and gas company’s stock valued at $939,000 after purchasing an additional 24,500 shares during the period. Prudential Financial Inc. boosted its position in Nabors Industries by 278.9% during the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after purchasing an additional 2,915,370 shares during the period. Finally, Strs Ohio boosted its position in Nabors Industries by 8.3% during the 3rd quarter. Strs Ohio now owns 2,510,000 shares of the oil and gas company’s stock valued at $20,255,000 after purchasing an additional 193,000 shares during the period. Institutional investors and hedge funds own 87.63% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “ValuEngine Lowers Nabors Industries (NBR) to Strong Sell” was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/valuengine-lowers-nabors-industries-nbr-to-strong-sell/1792943.html.

About Nabors Industries

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with Analyst Ratings Network's FREE daily email newsletter.