Nabors Industries (NBR) Earns Buy Rating from Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Nabors Industries (NYSE:NBR) in a research note issued to investors on Tuesday. They currently have a $8.00 price target on the oil and gas company’s stock. Jefferies Financial Group also issued estimates for Nabors Industries’ FY2020 earnings at $0.35 EPS, FY2021 earnings at $0.75 EPS and FY2022 earnings at $1.10 EPS.

NBR has been the topic of several other research reports. Guggenheim reaffirmed a buy rating and set a $11.00 target price on shares of Nabors Industries in a research note on Friday, October 12th. Morgan Stanley raised shares of Nabors Industries from an equal weight rating to an overweight rating and set a $9.00 target price on the stock in a research note on Thursday, July 12th. Bank of America began coverage on shares of Nabors Industries in a research note on Wednesday, October 17th. They set a buy rating on the stock. Wolfe Research began coverage on shares of Nabors Industries in a research report on Wednesday, October 10th. They set an outperform rating on the stock. Finally, BMO Capital Markets lowered their price target on shares of Nabors Industries from $7.50 to $6.50 and set a market perform rating on the stock in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $8.96.

NBR traded up $0.12 on Tuesday, hitting $5.24. 10,881,680 shares of the company’s stock were exchanged, compared to its average volume of 13,892,843. Nabors Industries has a fifty-two week low of $4.49 and a fifty-two week high of $8.86. The company has a quick ratio of 1.84, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The stock has a market cap of $1.95 billion, a PE ratio of -3.21 and a beta of 1.69.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.11). Nabors Industries had a negative return on equity of 14.21% and a negative net margin of 19.25%. The business had revenue of $779.43 million for the quarter, compared to analyst estimates of $800.78 million. During the same period last year, the firm earned ($0.42) EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, research analysts anticipate that Nabors Industries will post -1.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 4.58%. Nabors Industries’s payout ratio is -14.72%.

In other news, Director John P. Kotts purchased 100,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average price of $5.61 per share, with a total value of $561,000.00. Following the transaction, the director now owns 301,949 shares in the company, valued at approximately $1,693,933.89. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Yearwood purchased 197,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $5.14 per share, for a total transaction of $1,012,580.00. The disclosure for this purchase can be found here. Insiders own 4.15% of the company’s stock.

Several hedge funds have recently made changes to their positions in NBR. NumerixS Investment Technologies Inc acquired a new position in Nabors Industries in the second quarter valued at about $106,000. Signition LP acquired a new position in Nabors Industries in the second quarter valued at about $133,000. FNY Investment Advisers LLC lifted its position in Nabors Industries by 19,946.4% in the third quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 21,941 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in Nabors Industries in the second quarter valued at about $139,000. Finally, Vanguard Capital Wealth Advisors lifted its position in Nabors Industries by 147.1% in the third quarter. Vanguard Capital Wealth Advisors now owns 29,900 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 17,800 shares during the last quarter. 96.82% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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