Stock Traders Purchase Large Volume of Call Options on Nabors Industries (NBR)
Nabors Industries Ltd. (NYSE:NBR) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 43,167 call options on the stock. This is an increase of approximately 1,766% compared to the average volume of 2,313 call options.
A number of hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its holdings in shares of Nabors Industries by 278.9% during the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after buying an additional 2,915,370 shares in the last quarter. Victory Capital Management Inc. grew its position in Nabors Industries by 101.4% in the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after acquiring an additional 2,354,975 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Nabors Industries by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after acquiring an additional 2,243,068 shares during the last quarter. FMR LLC grew its position in Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock valued at $69,068,000 after acquiring an additional 2,118,198 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Nabors Industries by 47.5% in the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock valued at $32,637,000 after acquiring an additional 1,302,284 shares during the last quarter. 87.63% of the stock is owned by hedge funds and other institutional investors.
Nabors Industries (NBR) opened at $7.47 on Tuesday. The firm has a market cap of $2,140.00, a P/E ratio of -2.79 and a beta of 1.59. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $18.38. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.21%. Nabors Industries’s dividend payout ratio (DPR) is -8.96%.
Several research analysts have weighed in on NBR shares. Citigroup set a $10.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. BMO Capital Markets set a $6.00 target price on shares of Nabors Industries and gave the company a “hold” rating in a research note on Friday, October 27th. Cowen set a $11.00 target price on shares of Nabors Industries and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, Credit Suisse Group set a $8.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $10.88.
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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.
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