Nabors Industries (NYSE:NBR) has been assigned a consensus recommendation of “Hold” from the twenty-four analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $9.73.
Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Seaport Global Securities reissued a “buy” rating and set a $13.00 price target on shares of Nabors Industries in a report on Thursday, January 18th. Citigroup upped their price objective on shares of Nabors Industries to $9.50 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Cowen reissued a “buy” rating and issued a $10.00 price target on shares of Nabors Industries in a report on Friday, April 13th. Finally, JPMorgan Chase downgraded shares of Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Wednesday, January 17th.
Shares of NYSE:NBR traded up $0.07 during midday trading on Friday, reaching $8.21. The company had a trading volume of 165,222 shares, compared to its average volume of 9,845,391. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 1.56. The firm has a market cap of $2.55 billion, a PE ratio of -4.99 and a beta of 1.61. Nabors Industries has a one year low of $8.15 and a one year high of $8.25.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Tuesday, June 12th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, June 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.92%. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.
A number of institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its position in shares of Nabors Industries by 59.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 17,905 shares of the oil and gas company’s stock worth $122,000 after purchasing an additional 6,708 shares during the period. State Treasurer State of Michigan raised its position in Nabors Industries by 7.0% in the 1st quarter. State Treasurer State of Michigan now owns 114,963 shares of the oil and gas company’s stock valued at $804,000 after buying an additional 7,500 shares during the last quarter. Aperio Group LLC raised its position in Nabors Industries by 2.3% in the 1st quarter. Aperio Group LLC now owns 353,550 shares of the oil and gas company’s stock valued at $2,471,000 after buying an additional 7,818 shares during the last quarter. Amalgamated Bank increased its position in shares of Nabors Industries by 18.0% during the 4th quarter. Amalgamated Bank now owns 62,604 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 9,571 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Nabors Industries by 169.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,385 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 9,679 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.
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., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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