Nabors Industries (NYSE:NBR) Shares Gap Up to $2.30

Nabors Industries Ltd. (NYSE:NBR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.00, but opened at $2.30. Nabors Industries shares last traded at $2.72, with a volume of 18,871,600 shares.

A number of equities research analysts have issued reports on NBR shares. ValuEngine upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Susquehanna Bancshares set a $3.00 price objective on shares of Nabors Industries and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Co downgraded shares of Nabors Industries from an “outperform” rating to an “underperform” rating and set a $2.00 price objective on the stock. in a research note on Thursday. AltaCorp Capital reissued a “sector perform” rating on shares of Nabors Industries in a report on Thursday, June 20th. Finally, Bank of America cut shares of Nabors Industries from a “buy” rating to a “neutral” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.46.

The stock has a market cap of $803.24 million, a P/E ratio of -2.16 and a beta of 2.65. 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 business’s fifty day moving average price is $2.11 and its 200 day moving average price is $2.85.



Nabors Industries (NYSE:NBR) last posted its earnings results on Monday, July 29th. The oil and gas company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.40). The company had revenue of $771.40 million during the quarter, compared to the consensus estimate of $801.17 million. Nabors Industries had a negative return on equity of 16.01% and a negative net margin of 19.75%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted ($0.42) EPS. On average, analysts predict that Nabors Industries Ltd. will post -1.17 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.47%. Nabors Industries’s dividend payout ratio (DPR) is currently -3.17%.

In other Nabors Industries news, Director Tanya S. Beder acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $2.31 per share, for a total transaction of $115,500.00. Following the acquisition, the director now directly owns 219,409 shares in the company, valued at $506,834.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.02% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cresset Asset Management LLC raised its holdings in Nabors Industries by 527.8% in the 2nd quarter. Cresset Asset Management LLC now owns 11,521 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 9,686 shares during the last quarter. Magnetar Financial LLC raised its holdings in Nabors Industries by 220.9% in the 2nd quarter. Magnetar Financial LLC now owns 154,716 shares of the oil and gas company’s stock valued at $449,000 after buying an additional 106,506 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Nabors Industries in the 2nd quarter valued at approximately $196,000. Nuveen Asset Management LLC bought a new position in Nabors Industries in the 2nd quarter valued at approximately $7,393,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Nabors Industries by 26.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 309,696 shares of the oil and gas company’s stock valued at $898,000 after buying an additional 65,483 shares during the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

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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