Nabors Industries (NBR) Shares Gap Down to $3.56

Nabors Industries Ltd. (NYSE:NBR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $3.36, but opened at $3.56. Nabors Industries shares last traded at $3.74, with a volume of 389199 shares traded.

NBR has been the topic of a number of recent research reports. Societe Generale set a $4.00 target price on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, February 28th. Citigroup decreased their target price on Nabors Industries from $8.00 to $6.70 and set a “buy” rating on the stock in a report on Tuesday, March 12th. ValuEngine upgraded Nabors Industries from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded Nabors Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Cowen cut Nabors Industries from an “outperform” rating to a “market perform” rating and set a $2.75 target price on the stock. in a report on Thursday, January 17th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Nabors Industries has a consensus rating of “Hold” and a consensus price target of $7.13.

The stock has a market cap of $1.32 billion, a PE ratio of -2.97 and a beta of 2.28. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.39.



Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Nabors Industries had a negative net margin of 19.68% and a negative return on equity of 14.79%. The firm had revenue of $809.31 million for the quarter, compared to analyst estimates of $774.35 million. During the same period in the previous year, the business posted ($0.46) EPS. Nabors Industries’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nabors Industries Ltd. will post -0.91 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $25,000. Versant Capital Management Inc lifted its position in shares of Nabors Industries by 921.4% in the first quarter. Versant Capital Management Inc now owns 7,579 shares of the oil and gas company’s stock worth $26,000 after buying an additional 6,837 shares during the last quarter. GWM Advisors LLC acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $27,000. Hellman Jordan Management Co. Inc. MA acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $28,000. Finally, M&T Bank Corp acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $29,000. 86.05% of the stock is owned by institutional investors.

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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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