Nabors Industries Ltd. (NYSE:NBR) Director Tanya S. Beder acquired 50,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $2.31 per share, with a total value of $115,500.00. Following the completion of the acquisition, the director now owns 219,409 shares in the company, valued at $506,834.79. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of NYSE NBR opened at $2.27 on Friday. Nabors Industries Ltd. has a 12-month low of $1.81 and a 12-month high of $6.65. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.90 and a quick ratio of 1.67. The firm has a fifty day moving average of $2.53.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Monday, July 29th. The oil and gas company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.40). Nabors Industries had a negative net margin of 19.75% and a negative return on equity of 16.01%. The company had revenue of $771.40 million during the quarter, compared to analyst estimates of $801.17 million. During the same quarter in the prior year, the company posted ($0.42) earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts forecast that Nabors Industries Ltd. will post -1.1 earnings per share for the current year.
NBR has been the subject of a number of research analyst reports. Susquehanna Bancshares set a $3.00 price objective on Nabors Industries and gave the stock a “hold” rating in a report on Wednesday, July 31st. AltaCorp Capital restated a “sector perform” rating on shares of Nabors Industries in a report on Thursday, June 20th. ValuEngine upgraded Nabors Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup set a $3.00 price objective on Nabors Industries and gave the stock a “hold” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley dropped their price objective on Nabors Industries from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $5.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in NBR. Versant Capital Management Inc increased its holdings in Nabors Industries by 921.4% in the 1st quarter. Versant Capital Management Inc now owns 7,579 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 6,837 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Nabors Industries in the 2nd quarter valued at about $36,000. Traynor Capital Management Inc. purchased a new position in Nabors Industries in the 1st quarter valued at about $39,000. Fiera Capital Corp purchased a new position in Nabors Industries in the 1st quarter valued at about $39,000. Finally, Teza Capital Management LLC boosted its position in Nabors Industries by 27.7% in the 1st quarter. Teza Capital Management LLC now owns 13,967 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 3,027 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.
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. 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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