Citigroup Inc. set a $10.00 target price on Nabors Industries Ltd. (NYSE:NBR) in a research report released on Thursday morning. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other equities research analysts also recently commented on the company. SunTrust Banks, Inc. reiterated a buy rating and issued a $9.00 target price (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded Nabors Industries from a sell rating to a hold rating in a research report on Monday, September 11th. Jefferies Group LLC reiterated a neutral rating on shares of Nabors Industries in a research report on Thursday, September 7th. BMO Capital Markets reiterated a hold rating and issued a $8.00 target price on shares of Nabors Industries in a research report on Wednesday, September 6th. Finally, Sanford C. Bernstein reiterated an outperform rating and issued a $12.50 target price on shares of Nabors Industries in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $12.24.

Shares of Nabors Industries (NYSE:NBR) traded down 5.51% during trading on Thursday, hitting $7.55. The stock had a trading volume of 9,005,312 shares. The company’s market cap is $2.16 billion. The stock has a 50 day moving average of $7.28 and a 200 day moving average of $8.92. Nabors Industries has a 12 month low of $6.18 and a 12 month high of $18.40.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). The firm had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. Nabors Industries’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. Equities analysts forecast that Nabors Industries will post ($1.50) EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.18%. Nabors Industries’s dividend payout ratio is -9.41%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capstone Asset Management Co. grew its stake in shares of Nabors Industries by 0.9% during the second quarter. Capstone Asset Management Co. now owns 23,571 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 220 shares during the last quarter. Wright Investors Service Inc. grew its stake in shares of Nabors Industries by 2.2% during the second quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 265 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Nabors Industries by 0.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 36,812 shares of the oil and gas company’s stock valued at $481,000 after buying an additional 317 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in shares of Nabors Industries by 3.3% during the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 435 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Nabors Industries by 2.0% during the first quarter. Teacher Retirement System of Texas now owns 22,836 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 446 shares during the last quarter. 95.71% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

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