Nabors Industries Ltd. (NBR) to Issue Quarterly Dividend of $0.01 on January 3rd

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Nabors Industries Ltd. (NYSE:NBR) declared a quarterly dividend on Thursday, December 5th, Wall Street Journal reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.01 per share by the oil and gas company on Friday, January 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, December 12th.

NBR stock opened at $2.36 on Friday. The company has a 50-day simple moving average of $1.95 and a 200 day simple moving average of $2.18. The company has a market capitalization of $857.66 million, a P/E ratio of -1.87 and a beta of 2.79. The company has a quick ratio of 1.75, a current ratio of 2.02 and a debt-to-equity ratio of 1.50. Nabors Industries has a fifty-two week low of $1.50 and a fifty-two week high of $4.08.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, October 29th. The oil and gas company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.09). Nabors Industries had a negative net margin of 20.02% and a negative return on equity of 16.80%. The company had revenue of $758.08 million for the quarter, compared to analyst estimates of $777.69 million. During the same period in the previous year, the business posted ($0.29) EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that Nabors Industries will post -1.34 EPS for the current year.

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Nabors Industries from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Credit Suisse Group downgraded Nabors Industries from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $3.25 to $2.00 in a research report on Tuesday. Wells Fargo & Co lowered Nabors Industries from an “outperform” rating to an “underperform” rating and set a $2.00 price target for the company. in a research note on Thursday, September 12th. Royal Bank of Canada lowered Nabors Industries from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $9.00 to $3.50 in a research note on Wednesday, September 25th. Finally, Bank of America cut Nabors Industries from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $2.93.

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. 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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Dividend History for Nabors Industries (NYSE:NBR)

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