Nabors Industries Ltd. (NYSE:NBR) has received an average recommendation of “Hold” from the twenty-four brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.73.

Several research analysts have issued reports on the company. ValuEngine upgraded Nabors Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 2nd. Morgan Stanley boosted their target price on Nabors Industries from $8.50 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 11th. Cowen restated a “buy” rating and set a $10.00 target price on shares of Nabors Industries in a research report on Friday, April 13th. Finally, Citigroup boosted their price target on Nabors Industries to $9.50 and gave the company a “buy” rating in a report on Tuesday, May 8th.

Shares of Nabors Industries traded down $0.10, hitting $7.16, during trading hours on Thursday, Marketbeat Ratings reports. 14,001,494 shares of the company’s stock traded hands, compared to its average volume of 10,791,373. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $9.06. The firm has a market capitalization of $2.38 billion, a PE ratio of -4.39 and a beta of 1.58. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.95 and a quick ratio of 1.72.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, May 1st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.01). Nabors Industries had a negative net margin of 19.81% and a negative return on equity of 14.45%. The business had revenue of $734.66 million for the quarter, compared to analysts’ expectations of $763.99 million. equities research analysts expect that Nabors Industries will post -0.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Tuesday, June 12th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, June 11th. This represents a $0.24 dividend on an annualized basis and a yield of 3.35%. Nabors Industries’s dividend payout ratio is currently -14.72%.

A number of institutional investors have recently bought and sold shares of NBR. Bank of Montreal Can lifted its holdings in Nabors Industries by 36.4% during the fourth quarter. Bank of Montreal Can now owns 200,453 shares of the oil and gas company’s stock worth $1,369,000 after buying an additional 53,498 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Nabors Industries by 33.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,663,700 shares of the oil and gas company’s stock worth $11,364,000 after buying an additional 412,567 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Nabors Industries during the fourth quarter worth $109,000. Mutual of America Capital Management LLC increased its position in shares of Nabors Industries by 5.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 572,916 shares of the oil and gas company’s stock worth $3,913,000 after purchasing an additional 29,580 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Nabors Industries by 45.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,549 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 13,525 shares in the last quarter. Institutional investors own 96.28% 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.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

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.