Nabors Industries (NYSE:NBR) Trading Down 7.9%


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Nabors Industries Ltd. (NYSE:NBR)’s share price was down 7.9% on Tuesday . The company traded as low as $79.66 and last traded at $79.66. Approximately 4,490 shares traded hands during trading, a decline of 98% from the average daily volume of 218,590 shares. The stock had previously closed at $86.50.

Separately, Morgan Stanley boosted their price objective on Nabors Industries from $60.00 to $80.00 and gave the company an “underweight” rating in a research report on Wednesday, March 31st. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.64.

The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.06 and a current ratio of 2.39. The firm has a market capitalization of $676.66 million, a P/E ratio of -0.57 and a beta of 3.77. The business has a fifty day moving average of $94.75 and a 200-day moving average of $72.64.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Wednesday, April 28th. The oil and gas company reported ($20.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($20.10) by ($0.06). Nabors Industries had a negative return on equity of 27.82% and a negative net margin of 39.93%. On average, equities research analysts forecast that Nabors Industries Ltd. will post -79.09 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the business. KBC Group NV lifted its stake in shares of Nabors Industries by 31.4% in the 1st quarter. KBC Group NV now owns 1,490 shares of the oil and gas company’s stock worth $139,000 after acquiring an additional 356 shares during the period. New York State Teachers Retirement System lifted its position in Nabors Industries by 7.6% in the fourth quarter. New York State Teachers Retirement System now owns 11,385 shares of the oil and gas company’s stock worth $663,000 after purchasing an additional 800 shares during the period. Graves Light Private Wealth Management Inc. boosted its stake in Nabors Industries by 20,000.0% during the 1st quarter. Graves Light Private Wealth Management Inc. now owns 1,005 shares of the oil and gas company’s stock valued at $94,000 after purchasing an additional 1,000 shares in the last quarter. Rhumbline Advisers boosted its stake in Nabors Industries by 6.6% during the 4th quarter. Rhumbline Advisers now owns 29,813 shares of the oil and gas company’s stock valued at $1,736,000 after purchasing an additional 1,853 shares in the last quarter. Finally, CWM Advisors LLC acquired a new position in shares of Nabors Industries during the 1st quarter valued at $227,000. Institutional investors own 63.54% of the company’s stock.

Nabors Industries Company Profile (NYSE:NBR)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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