Nabors Industries (NYSE:NBR) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Nabors Industries (NYSE:NBR) from a sell rating to a hold rating in a report released on Thursday morning, ValuEngine reports.

NBR has been the topic of several other reports. Morgan Stanley decreased their target price on shares of Nabors Industries from $6.00 to $5.00 and set an overweight rating on the stock in a research report on Friday, July 12th. AltaCorp Capital restated a sector perform rating on shares of Nabors Industries in a research report on Thursday, June 20th. Finally, Citigroup set a $3.00 target price on shares of Nabors Industries and gave the company a hold rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Nabors Industries currently has an average rating of Hold and a consensus target price of $5.75.

Shares of NBR traded down $0.07 during midday trading on Thursday, hitting $2.55. 326,746 shares of the company traded hands, compared to its average volume of 14,084,838. The firm has a 50 day simple moving average of $2.50. Nabors Industries has a 52 week low of $1.81 and a 52 week high of $6.85. The stock has a market cap of $900.64 million, a PE ratio of -2.02 and a beta of 2.51. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 1.90.

Nabors Industries (NYSE:NBR) last announced its 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). The business had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $801.17 million. Nabors Industries had a negative net margin of 19.75% and a negative return on equity of 16.01%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.42) earnings per share. On average, equities analysts anticipate that Nabors Industries will post -1.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Tuesday, September 10th. Nabors Industries’s dividend payout ratio (DPR) is currently -3.17%.

In other news, CFO William J. Restrepo acquired 177,100 shares of Nabors Industries stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $2.03 per share, with a total value of $359,513.00. Following the transaction, the chief financial officer now directly owns 2,136,255 shares of the company’s stock, valued at approximately $4,336,597.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.02% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Nabors Industries in the 4th quarter worth about $7,534,000. Strs Ohio bought a new position in Nabors Industries in the 2nd quarter worth about $4,930,000. Parametric Portfolio Associates LLC grew its stake in Nabors Industries by 44.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 5,123,458 shares of the oil and gas company’s stock worth $17,625,000 after acquiring an additional 1,572,495 shares in the last quarter. Principal Financial Group Inc. grew its stake in Nabors Industries by 84.9% in the 4th quarter. Principal Financial Group Inc. now owns 2,666,703 shares of the oil and gas company’s stock worth $5,334,000 after acquiring an additional 1,224,729 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Nabors Industries by 49.3% in the 1st quarter. First Trust Advisors LP now owns 1,569,190 shares of the oil and gas company’s stock worth $5,398,000 after acquiring an additional 518,376 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

About Nabors Industries

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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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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