Today, Nabors Industries Ltd. (NBR) Raised to “Conviction-Buy” at Goldman Sachs Group Inc.

Today, Nabors Industries Ltd. (NBR) Raised to “Conviction-Buy” at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. upgraded shares of Nabors Industries Ltd. (NYSE:NBR) from a buy rating to a conviction-buy rating in a research report released on Monday, The Fly reports.

Several other brokerages have also weighed in on NBR. Citigroup Inc. increased their price objective on shares of Nabors Industries from $12.00 to $13.00 and gave the company a buy rating in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Nabors Industries from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Friday, August 19th. Jefferies Group set a $12.00 target price on shares of Nabors Industries and gave the stock a hold rating in a report on Friday, November 11th. JPMorgan Chase & Co. reiterated a buy rating on shares of Nabors Industries in a report on Friday, November 11th. Finally, Capital One Financial Corp. upgraded shares of Nabors Industries from an equal weight rating to an overweight rating and set a $13.00 target price on the stock in a report on Monday, September 19th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Nabors Industries has a consensus rating of Buy and a consensus price target of $12.07.

Shares of Nabors Industries (NYSE:NBR) opened at 14.54 on Monday. The company has a 50-day moving average of $12.77 and a 200-day moving average of $10.51. Nabors Industries has a one year low of $4.93 and a one year high of $14.60. The company’s market capitalization is $4.12 billion.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 25th. The company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by $0.01. Nabors Industries had a negative net margin of 36.84% and a negative return on equity of 8.04%. The business earned $519.70 million during the quarter, compared to analyst estimates of $543.48 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. The company’s quarterly revenue was down 38.7% on a year-over-year basis. On average, analysts anticipate that Nabors Industries will post ($1.26) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, December 12th. Nabors Industries’s dividend payout ratio is presently -7.92%.

Several hedge funds have recently bought and sold shares of NBR. Retirement Systems of Alabama boosted its stake in Nabors Industries by 0.5% in the second quarter. Retirement Systems of Alabama now owns 712,433 shares of the company’s stock worth $7,160,000 after buying an additional 3,230 shares in the last quarter. Sippican Capital Advisors boosted its stake in Nabors Industries by 18.9% in the second quarter. Sippican Capital Advisors now owns 141,357 shares of the company’s stock worth $1,421,000 after buying an additional 22,438 shares in the last quarter. Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in Nabors Industries during the second quarter worth about $2,412,000. LS Investment Advisors LLC boosted its stake in Nabors Industries by 77.7% in the second quarter. LS Investment Advisors LLC now owns 16,763 shares of the company’s stock worth $168,000 after buying an additional 7,332 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Nabors Industries by 2.5% in the second quarter. Nisa Investment Advisors LLC now owns 164,800 shares of the company’s stock worth $1,656,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 96.63% of the company’s stock.

Nabors Industries Company Profile

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

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