Nabors Industries Ltd. (NYSE:NBR) shot up 5.2% on Tuesday . The stock traded as high as $3.88 and last traded at $3.87. 6,501,364 shares were traded during trading, a decline of 47% from the average session volume of 12,188,302 shares. The stock had previously closed at $3.68.
Several research firms have recently weighed in on NBR. Zacks Investment Research raised Nabors Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 6th. ValuEngine upgraded Nabors Industries from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Citigroup lowered Nabors Industries from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Societe Generale set a $4.00 target price on Nabors Industries and gave the company a “buy” rating in a report on Thursday, February 28th. Finally, Argus lowered Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.13.
The company has a quick ratio of 1.72, a current ratio of 1.92 and a debt-to-equity ratio of 1.30. The firm has a market cap of $1.39 billion, a PE ratio of -3.07 and a beta of 2.30.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Tuesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.04 annualized dividend and a dividend yield of 1.03%. Nabors Industries’s dividend payout ratio is -3.17%.
Large investors have recently made changes to their positions in the stock. Traynor Capital Management Inc. purchased a new stake in shares of Nabors Industries during the first quarter worth $39,000. Cambridge Investment Research Advisors Inc. bought a new position in Nabors Industries during the fourth quarter valued at about $25,000. GWM Advisors LLC bought a new position in Nabors Industries during the fourth quarter valued at about $27,000. Hellman Jordan Management Co. Inc. MA bought a new position in Nabors Industries during the fourth quarter valued at about $28,000. Finally, M&T Bank Corp bought a new position in Nabors Industries during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 87.33% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was published by WKRB News and is the sole property of of WKRB News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.wkrb13.com/2019/04/17/nabors-industries-nbr-shares-up-5-2.html.
About Nabors Industries (NYSE:NBR)
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.
Recommended Story: Asset Allocation
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 MarketBeat.com's FREE daily email newsletter.