Nabors Industries (NBR) Cut to “Neutral” at Susquehanna Bancshares

Susquehanna Bancshares cut shares of Nabors Industries (NYSE:NBR) from a positive rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Nabors Industries from a neutral rating to an underweight rating in a research report on Tuesday, December 11th. Raymond James downgraded Nabors Industries from a strong-buy rating to a market perform rating and set a $2.75 price target for the company. in a research note on Thursday, December 13th. Guggenheim reaffirmed a buy rating and issued a $11.00 price target on shares of Nabors Industries in a research note on Friday, October 12th. Bank of America initiated coverage on Nabors Industries in a research note on Wednesday, October 17th. They issued a buy rating for the company. Finally, ValuEngine downgraded Nabors Industries from a hold rating to a sell rating in a research note on Friday, December 21st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Nabors Industries presently has a consensus rating of Hold and an average price target of $8.56.

Shares of Nabors Industries stock opened at $2.82 on Wednesday. The stock has a market capitalization of $1.06 billion, a PE ratio of -1.73 and a beta of 1.95. Nabors Industries has a 52-week low of $1.81 and a 52-week high of $8.86. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.82.

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 Zacks’ consensus estimate of ($0.20) by ($0.11). The business had revenue of $779.43 million during the quarter, compared to the consensus estimate of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) EPS. As a group, analysts anticipate that Nabors Industries will post -1.22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 3rd. Shareholders of record on Thursday, December 13th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 8.51%. The ex-dividend date was Wednesday, December 12th. Nabors Industries’s payout ratio is -14.72%.

In other Nabors Industries news, Director John Yearwood bought 197,000 shares of the stock in a transaction on Thursday, November 1st. The stock was purchased at an average price of $5.14 per share, with a total value of $1,012,580.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Kotts bought 100,000 shares of the stock in a transaction on Tuesday, November 6th. The shares were acquired at an average cost of $5.61 per share, with a total value of $561,000.00. Following the purchase, the director now owns 301,949 shares of the company’s stock, 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 insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Nabors Industries by 12.3% during the second quarter. BlackRock Inc. now owns 31,330,733 shares of the oil and gas company’s stock worth $200,829,000 after purchasing an additional 3,443,863 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Nabors Industries by 0.8% during the third quarter. Vanguard Group Inc. now owns 31,147,447 shares of the oil and gas company’s stock worth $191,869,000 after purchasing an additional 246,670 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Nabors Industries by 0.8% during the third quarter. Vanguard Group Inc now owns 31,147,447 shares of the oil and gas company’s stock worth $191,869,000 after purchasing an additional 246,670 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Nabors Industries by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 27,153,177 shares of the oil and gas company’s stock worth $167,261,000 after purchasing an additional 549,820 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of Nabors Industries by 26.0% during the third quarter. Deprince Race & Zollo Inc. now owns 6,106,150 shares of the oil and gas company’s stock worth $37,614,000 after purchasing an additional 1,261,551 shares during the last quarter. 88.88% of the stock is 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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