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.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.