Nabors Industries (NBR) Shares Up 5.2%

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.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 26th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.09). Nabors Industries had a negative return on equity of 13.75% and a negative net margin of 21.03%. The firm had revenue of $782.08 million for the quarter, compared to analysts’ expectations of $805.82 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. Nabors Industries’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts forecast that Nabors Industries Ltd. will post -0.84 earnings per share for the current fiscal year.

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.

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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.

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