Guggenheim reaffirmed their buy rating on shares of Nabors Industries (NYSE:NBR) in a research note issued to investors on Friday morning. They currently have a $11.00 price target on the oil and gas company’s stock.
NBR has been the topic of several other reports. Citigroup decreased their target price on shares of Nabors Industries from $10.00 to $9.00 and set a buy rating on the stock in a research report on Wednesday, July 11th. Wells Fargo & Co upgraded shares of Nabors Industries from a market perform rating to an outperform rating and set a $8.00 target price on the stock in a research report on Friday, June 29th. ValuEngine upgraded shares of Nabors Industries from a strong sell rating to a sell rating in a research report on Thursday, August 2nd. Morgan Stanley upgraded shares of Nabors Industries from an equal weight rating to an overweight rating and set a $9.00 price objective on the stock in a research report on Thursday, July 12th. Finally, Seaport Global Securities reiterated a buy rating and issued a $11.00 price objective on shares of Nabors Industries in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $9.13.
Shares of NYSE NBR traded up $0.17 during trading on Friday, hitting $6.15. 8,097,325 shares of the company were exchanged, compared to its average volume of 10,988,532. The firm has a market capitalization of $2.20 billion, a P/E ratio of -3.77 and a beta of 1.63. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $8.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.84 and a current ratio of 2.04.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Tuesday, September 11th were given a $0.06 dividend. The ex-dividend date was Monday, September 10th. This represents a $0.24 annualized dividend and a dividend yield of 3.90%. Nabors Industries’s dividend payout ratio is presently -14.72%.
Institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc purchased a new position in Nabors Industries in the 2nd quarter valued at about $106,000. Signition LP purchased a new position in Nabors Industries in the 2nd quarter valued at about $133,000. Commerzbank Aktiengesellschaft FI purchased a new position in Nabors Industries in the 2nd quarter valued at about $139,000. Cerebellum GP LLC purchased a new position in Nabors Industries in the 2nd quarter valued at about $177,000. Finally, Oakbrook Investments LLC purchased a new position in Nabors Industries in the 2nd quarter valued at about $191,000. Institutional investors and hedge funds own 96.20% 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.
Read More: Google Finance Portfolio Tips and Tricks
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.