Nabors Industries (NBR) Receives $10.39 Average Price Target from Analysts

Nabors Industries (NYSE:NBR) has received an average recommendation of “Hold” from the twenty-six ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $10.39.

A number of analysts recently commented on NBR shares. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. ValuEngine downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. JPMorgan Chase downgraded Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price target for the company. in a research report on Wednesday, January 17th. Stephens started coverage on Nabors Industries in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 price target for the company. Finally, Royal Bank of Canada set a $8.00 price target on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, December 21st.

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Shares of NYSE:NBR traded up $0.14 on Friday, reaching $6.99. 9,042,727 shares of the company’s stock traded hands, compared to its average volume of 7,307,325. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $2,205.61, a price-to-earnings ratio of -4.29 and a beta of 1.68. Nabors Industries has a 52-week low of $5.32 and a 52-week high of $14.28.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.01). The business had revenue of $708.28 million for the quarter, compared to analysts’ expectations of $706.35 million. Nabors Industries had a negative net margin of 21.32% and a negative return on equity of 15.56%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) earnings per share. equities research analysts predict that Nabors Industries will post -0.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 13th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, March 12th. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Nabors Industries by 15.3% in the fourth quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock valued at $190,080,000 after purchasing an additional 3,700,602 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Nabors Industries by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after purchasing an additional 2,243,068 shares in the last quarter. Thunderbird Partners LLP purchased a new position in shares of Nabors Industries in the fourth quarter valued at $37,219,000. Victory Capital Management Inc. grew its position in shares of Nabors Industries by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 4,723,162 shares of the oil and gas company’s stock valued at $32,259,000 after purchasing an additional 45,208 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Nabors Industries by 47.5% in the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock valued at $32,637,000 after purchasing an additional 1,302,284 shares in the last quarter. Institutional investors own 87.22% of the company’s stock.

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Nabors Industries Company Profile

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.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

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