Nabors Industries (NBR) Shares Down 5.1%

Nabors Industries Ltd. (NYSE:NBR) fell 5.1% during mid-day trading on Friday . The company traded as low as $2.77 and last traded at $2.82. 12,843,449 shares traded hands during trading, a decline of 41% from the average session volume of 21,730,818 shares. The stock had previously closed at $2.97.

A number of brokerages have recently issued reports on NBR. Cowen reiterated a “buy” rating and set a $11.00 price objective on shares of Nabors Industries in a research note on Friday, October 12th. Royal Bank of Canada set a $12.00 price target on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, September 20th. Piper Jaffray Companies set a $8.00 price target on Nabors Industries and gave the company a “hold” rating in a research note on Wednesday, October 3rd. Susquehanna Bancshares cut Nabors Industries from a “positive” rating to a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut Nabors Industries from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 11th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $8.56.

The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The firm has a market cap of $1.06 billion, a P/E ratio of -1.73 and a beta of 1.95.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). The firm had revenue of $779.43 million during the quarter, compared to analyst estimates of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.42) earnings per share. As a group, equities research analysts predict that Nabors Industries Ltd. will post -1.22 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 8.51%. The ex-dividend date of this dividend was Wednesday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is currently -14.72%.

In related news, Director John Yearwood bought 197,000 shares of Nabors Industries stock in a transaction dated Thursday, November 1st. The shares were bought at an average cost of $5.14 per share, with a total value of $1,012,580.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John P. Kotts bought 100,000 shares of Nabors Industries stock in a transaction dated Tuesday, November 6th. The shares were bought at an average cost of $5.61 per share, for a total transaction of $561,000.00. Following the completion of the acquisition, the director now owns 301,949 shares in the company, valued at approximately $1,693,933.89. The disclosure for this purchase can be found here. Corporate insiders own 4.15% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its holdings in shares of Nabors Industries by 15.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 514,800 shares of the oil and gas company’s stock worth $3,171,000 after purchasing an additional 69,000 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Nabors Industries by 48.7% during the 3rd quarter. Virtu Financial LLC now owns 123,720 shares of the oil and gas company’s stock worth $762,000 after buying an additional 40,499 shares during the last quarter. Energy Opportunities Capital Management LLC lifted its position in shares of Nabors Industries by 23.1% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 279,617 shares of the oil and gas company’s stock worth $1,792,000 after buying an additional 52,500 shares during the last quarter. Miller Value Partners LLC lifted its position in shares of Nabors Industries by 25.5% during the 2nd quarter. Miller Value Partners LLC now owns 87,900 shares of the oil and gas company’s stock worth $563,000 after buying an additional 17,870 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Nabors Industries by 72.6% during the 2nd quarter. Voya Investment Management LLC now owns 141,233 shares of the oil and gas company’s stock worth $906,000 after buying an additional 59,423 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

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Nabors Industries Company Profile (NYSE:NBR)

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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