Brokerages Set Nabors Industries Ltd. (NBR) PT at $9.18

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Nabors Industries Ltd. (NYSE:NBR) has received an average rating of “Buy” from the nineteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.13.

A number of brokerages have issued reports on NBR. Cowen reaffirmed a “buy” rating and set a $11.00 price objective on shares of Nabors Industries in a report on Friday. ValuEngine lowered shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Wolfe Research began coverage on shares of Nabors Industries in a report on Wednesday. They set an “outperform” rating for the company. Piper Jaffray Companies set a $8.00 price objective on shares of Nabors Industries and gave the company a “hold” rating in a report on Wednesday, October 3rd. Finally, Citigroup cut their price objective on shares of Nabors Industries from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, July 11th.

Several hedge funds have recently bought and sold shares of the stock. Viking Fund Management LLC grew its holdings in shares of Nabors Industries by 50.0% in the third quarter. Viking Fund Management LLC now owns 300,000 shares of the oil and gas company’s stock valued at $1,848,000 after purchasing an additional 100,000 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its holdings in shares of Nabors Industries by 29.7% in the third quarter. Jaffetilchin Investment Partners LLC now owns 69,416 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 15,893 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Nabors Industries by 8.2% in the second quarter. Northern Trust Corp now owns 3,093,157 shares of the oil and gas company’s stock valued at $19,826,000 after purchasing an additional 235,459 shares in the last quarter. Energy Opportunities Capital Management LLC grew its holdings in shares of Nabors Industries by 23.1% in the second quarter. Energy Opportunities Capital Management LLC now owns 279,617 shares of the oil and gas company’s stock valued at $1,792,000 after purchasing an additional 52,500 shares in the last quarter. Finally, Miller Value Partners LLC grew its holdings in shares of Nabors Industries by 25.5% in the second quarter. Miller Value Partners LLC now owns 87,900 shares of the oil and gas company’s stock valued at $563,000 after purchasing an additional 17,870 shares in the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

NYSE NBR traded up $0.17 on Wednesday, reaching $6.15. 8,097,325 shares of the stock were exchanged, compared to its average volume of 10,988,532. Nabors Industries has a one year low of $5.32 and a one year high of $8.86. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -3.77 and a beta of 1.63. The company has a current ratio of 2.04, a quick ratio of 1.84 and a debt-to-equity ratio of 1.24.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.15). Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The firm had revenue of $761.92 million for the quarter, compared to the consensus estimate of $755.76 million. During the same quarter in the previous year, the business posted ($0.41) EPS. Nabors Industries’s revenue was up 20.7% on a year-over-year basis. Sell-side analysts forecast that Nabors Industries will post -1.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Tuesday, September 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Monday, September 10th. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.

Nabors Industries Company Profile

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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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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