Guggenheim reiterated their buy rating on shares of Nabors Industries (NYSE:NBR) in a research report released on Friday morning. Guggenheim currently has a $11.00 price objective on the oil and gas company’s stock.

NBR has been the subject of a number of other research reports. Morgan Stanley upgraded shares of Nabors Industries from an equal weight rating to an overweight rating and set a $9.00 price target for the company in a research note on Thursday, July 12th. Wells Fargo & Co upgraded shares of Nabors Industries from a market perform rating to an outperform rating and set a $8.00 price target for the company in a research note on Friday, June 29th. Wolfe Research initiated coverage on shares of Nabors Industries in a research note on Wednesday. They issued an outperform rating for the company. Citigroup decreased their price target on shares of Nabors Industries from $10.00 to $9.00 and set a buy rating for the company in a research note on Wednesday, July 11th. Finally, Piper Jaffray Companies set a $9.00 price target on shares of Nabors Industries and gave the stock a hold rating in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Nabors Industries currently has an average rating of Buy and a consensus target price of $9.13.

Nabors Industries stock traded up $0.17 during trading on Friday, reaching $6.15. The stock had a trading volume of 8,097,325 shares, compared to its average volume of 10,988,532. Nabors Industries has a 52-week low of $5.32 and a 52-week high of $8.86. The company has a quick ratio of 1.84, a current ratio of 2.04 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $2.20 billion, a P/E ratio of -3.77 and a beta of 1.63.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.15). Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The firm had revenue of $761.92 million during the quarter, compared to analysts’ expectations of $755.76 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts anticipate that Nabors Industries will post -1.03 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 11th were given a dividend of $0.06 per share. The ex-dividend date was Monday, September 10th. This represents a $0.24 annualized dividend and a dividend yield of 3.90%. Nabors Industries’s dividend payout ratio is presently -14.72%.

Large investors have recently modified their holdings of the company. CIBC World Markets Inc. increased its holdings in shares of Nabors Industries by 8.8% in the 1st quarter. CIBC World Markets Inc. now owns 96,390 shares of the oil and gas company’s stock valued at $674,000 after acquiring an additional 7,780 shares during the period. Glen Harbor Capital Management LLC increased its holdings in shares of Nabors Industries by 34.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 31,968 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 8,176 shares during the period. Legal & General Group Plc increased its holdings in shares of Nabors Industries by 1.3% in the 1st quarter. Legal & General Group Plc now owns 668,484 shares of the oil and gas company’s stock valued at $4,673,000 after acquiring an additional 8,486 shares during the period. Riverhead Capital Management LLC increased its stake in Nabors Industries by 34.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 35,397 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 9,100 shares during the period. Finally, SCP Investment LP increased its stake in Nabors Industries by 4.5% in the 2nd quarter. SCP Investment LP now owns 230,000 shares of the oil and gas company’s stock valued at $1,474,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Nabors Industries Company Profile

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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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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