Nabors Industries (NYSE:NBR) Sees Unusually-High Trading Volume

Shares of Nabors Industries Ltd. (NYSE:NBRGet Rating) saw unusually-strong trading volume on Wednesday . Approximately 3,078 shares changed hands during mid-day trading, a decline of 98% from the previous session’s volume of 148,571 shares.The stock last traded at $161.28 and had previously closed at $161.13.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NBR shares. JPMorgan Chase & Co. increased their target price on Nabors Industries from $138.00 to $155.00 and gave the stock an “underweight” rating in a report on Thursday, November 3rd. Susquehanna Bancshares raised their price objective on Nabors Industries from $125.00 to $189.00 in a research note on Thursday, October 27th. Susquehanna raised their price objective on Nabors Industries from $125.00 to $189.00 in a research note on Thursday, October 27th. TheStreet upgraded Nabors Industries from a “d+” rating to a “c-” rating in a research note on Thursday, October 20th. Finally, Morgan Stanley raised their price objective on Nabors Industries from $140.00 to $175.00 and gave the company an “underweight” rating in a research note on Wednesday, January 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Nabors Industries has an average rating of “Hold” and an average target price of $170.50.

Nabors Industries Trading Up 3.1 %

The stock has a market capitalization of $1.57 billion, a PE ratio of -3.46 and a beta of 2.79. The firm has a 50-day moving average price of $155.90 and a 200-day moving average price of $137.25. The company has a current ratio of 1.73, a quick ratio of 1.50 and a debt-to-equity ratio of 4.34.

Nabors Industries (NYSE:NBRGet Rating) last announced its earnings results on Tuesday, October 25th. The oil and gas company reported ($5.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.71) by ($1.83). Nabors Industries had a negative net margin of 16.16% and a negative return on equity of 51.63%. The business had revenue of $698.95 million for the quarter, compared to analysts’ expectations of $679.20 million. As a group, equities analysts forecast that Nabors Industries Ltd. will post -26.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in Nabors Industries by 7.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,653 shares of the oil and gas company’s stock worth $8,588,000 after acquiring an additional 5,890 shares during the last quarter. California State Teachers Retirement System increased its holdings in Nabors Industries by 4.5% in the 3rd quarter. California State Teachers Retirement System now owns 11,273 shares of the oil and gas company’s stock worth $1,144,000 after acquiring an additional 481 shares during the last quarter. Telemetry Investments L.L.C. purchased a new stake in Nabors Industries in the 3rd quarter worth about $355,000. Thrivent Financial for Lutherans increased its holdings in Nabors Industries by 6.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,249 shares of the oil and gas company’s stock worth $938,000 after acquiring an additional 557 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Nabors Industries by 1.6% in the 3rd quarter. Two Sigma Advisers LP now owns 74,600 shares of the oil and gas company’s stock worth $7,568,000 after acquiring an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 71.98% of the company’s stock.

About Nabors Industries

(Get Rating)

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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