Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “buy” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research note issued on Friday.

The analysts wrote, “Analysts Offer Insights on Materials Companies: Nabors Industries (NYSE: NBR), Conocophillips (NYSE: COP) and Energen Corp. (NYSE: EGN) | Analyst Ratings

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Home » Analysts Offer Insights on Materials Companies: Nabors Industries (NYSE: NBR), Conocophillips (NYSE: COP) and Energen Corp. (NYSE: EGN)”

NBR has been the topic of several other reports. Citigroup Inc. boosted their price target on Nabors Industries from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Goldman Sachs Group Inc. set a $17.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Wednesday, October 19th. DA Davidson assumed coverage on Nabors Industries in a report on Thursday, September 15th. They set a “buy” rating and a $16.00 price objective for the company. Capital One Financial Corp. upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a report on Monday, September 19th. Finally, Zacks Investment Research upgraded Nabors Industries from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, October 4th. Six analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Nabors Industries presently has an average rating of “Buy” and a consensus target price of $11.83.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

Shares of Nabors Industries (NYSE:NBR) opened at 12.79 on Friday. The stock has a 50 day moving average price of $12.21 and a 200 day moving average price of $10.24. Nabors Industries has a 12-month low of $4.93 and a 12-month high of $13.62. The firm’s market cap is $3.63 billion.

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. 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 period last year, the firm posted ($0.14) earnings per share. Nabors Industries’s quarterly revenue was down 38.7% compared to the same quarter last year. On average, equities analysts expect that Nabors Industries will post ($1.26) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 1.88%. Nabors Industries’s dividend payout ratio (DPR) is -7.92%.

Hedge funds have recently modified their holdings of the company. RBF Capital LLC boosted its stake in shares of Nabors Industries by 112.5% in the third quarter. RBF Capital LLC now owns 301,000 shares of the company’s stock worth $3,660,000 after buying an additional 159,352 shares during the period. Clinton Group Inc. acquired a new position in shares of Nabors Industries during the third quarter worth $421,000. The Manufacturers Life Insurance Company acquired a new position in shares of Nabors Industries during the third quarter worth $4,720,000. CSS LLC IL acquired a new position in shares of Nabors Industries during the third quarter worth $146,000. Finally, UBS Oconnor LLC raised its position in shares of Nabors Industries by 43.6% in the third quarter. UBS Oconnor LLC now owns 308,377 shares of the company’s stock worth $3,750,000 after buying an additional 93,576 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

About Nabors Industries

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.

5 Day Chart for NYSE:NBR

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