Todays Report: Today, Nabors Industries Ltd. (NBR) Stock Rating Upgrade by Tudor Pickering

Today, Nabors Industries Ltd. (NBR) Stock Rating Upgrade by Tudor Pickering

Nabors Industries Ltd. (NYSE:NBR) was upgraded by investment analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.

Several other analysts have also recently issued reports on NBR. Zacks Investment Research raised shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 8th. Jefferies Group reissued a “hold” rating and set a $10.00 price target (up previously from $9.00) on shares of Nabors Industries in a research report on Monday, August 8th. Simmons reissued a “neutral” rating and set a $12.50 price target (up previously from $12.25) on shares of Nabors Industries in a research report on Monday, August 8th. Nomura set a $8.00 price target on shares of Nabors Industries and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Finally, Citigroup Inc. increased their price target on shares of Nabors Industries from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.07.

Nabors Industries (NYSE:NBR) opened at 13.50 on Tuesday. The stock’s market cap is $3.83 billion. Nabors Industries has a 12 month low of $4.93 and a 12 month high of $14.60. The company’s 50 day moving average is $12.85 and its 200 day moving average is $10.63.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is currently -7.92%.

A number of large investors have recently added to or reduced their stakes in NBR. Quantbot Technologies LP acquired a new stake in Nabors Industries during the second quarter worth approximately $765,000. World Asset Management Inc increased its stake in Nabors Industries by 3.3% in the second quarter. World Asset Management Inc now owns 19,609 shares of the company’s stock worth $197,000 after buying an additional 622 shares during the period. LMR Partners LLP acquired a new stake in Nabors Industries during the second quarter worth approximately $425,000. Retirement Systems of Alabama increased 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 during the period. Finally, Sippican Capital Advisors increased 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 during the period. 95.59% of the stock is owned by institutional investors.

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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