Nabors Industries Ltd. (NBR) Downgraded by Morgan Stanley to "Equal Weight"

Xavier Trudeau
Juillet 22, 2017

Citigroup Inc. reaffirmed a "buy" rating on shares of Nabors Industries in a report on Wednesday, May 10th. Dimensional Fund Advisors LP now owns 19,723,712 shares of the oil and gas company's stock valued at $257,786,000 after buying an additional 1,053,328 shares in the last quarter.

Analysts await Nabors Industries Ltd. (NYSE:NBR) to report earnings on August, 2 after the close. Jefferies Group LLC decreased their target price on shares of Nabors Industries from $15.00 to $11.50 and set a "hold" rating for the company in a research note on Wednesday, May 3rd.

Wells Fargo "Downgrades" Nabors Industries (NYSE:NBR) in a research note issued to investors on 7/07/17 to Market Perform with price target of $0. Wright Investors Service Inc. boosted its stake in shares of Nabors Industries by 2.2% in the second quarter.

12/02/2016 - Sanford C. Bernstein began new coverage on Nabors Industries Ltd. giving the company a "outperform" rating. Deutsche Bank AG reaffirmed a "buy" rating and set a $13.00 price objective (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating.

On the other hand Nabors Industries (NYSE:NBR) has Relative Strength Index (RSI 14) of 45.4 along with Average True Range (ATR 14) of 0.42. Moreover, Parallax Volatility Advisers Ltd Partnership has 0% invested in Nabors Industries Ltd. (NYSE:NBR) for 2,238 shares. 7,600,237 shares of the company were exchanged. The company has a 50 day moving average price of $8.05 and a 200 day moving average price of $12.20. It has a market cap of $2.25 Billion.

The stock Hit its 1-year high of $18.40 on 01/06/17 and its 1-year low price of $6.93 on 07/07/17.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.36) by $0.16. Nabors Industries had a negative return on equity of 11.57% and a negative net margin of 36.49%. For the current year the company's revenue estimates are $2.52 Billion compared to low analyst estimates of $2.4 Billion and high estimates of $2.86 Billion according to the prediction of 21 analysts. During the same period a year ago, the company earned ($0.29) earnings per share.

While considering growth estimates of the company, it has next quarter growth estimates of 20% whereas during current quarter it has -34.6% estimations over growth, comparing to the estimations of -12.5% during current year and 69.6% for next year.

Among 28 analysts covering Nabors Industries Ltd.

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06/21/2017 - Nabors Industries Ltd. was downgraded to "equal-weight" by analysts at Morgan Stanley.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Blackrock Invest Mngmt Lc holds 995,660 shares or 0.02% of its portfolio. This represents a $0.24 dividend on an annualized basis and a yield of 3.06%.

According to Yahoo Finance, The Dividend Date for Nabors Industries is Jul 5, 2017 and its Ex-Dividend Date is Jun 12, 2017.

Nabors Industries (NYSE:NBR)'s trailing twelve month revenues are $2.19 Billion, whereas its price to sales ratio for the same period is 1.05. The stock was purchased at an average price of $9.43 per share, for a total transaction of $207,460.00. Aperio Group LLC now owns 126,989 shares of the oil and gas company's stock worth $1,034,000 after buying an additional 29,450 shares during the period. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Several other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group, Inc. Finally, Aviance Capital Management LLC acquired a new stake in shares of Nabors Industries during the first quarter valued at about $143,000. The short sellers will then buy the stock back at a much lower price and replace the borrowed shares, pocketing the difference. Coconut Grove Bank raised its stake in shares of Nabors Industries by 47.1% in the first quarter. Bank of New York Mellon Corp now owns 14,125,222 shares of the oil and gas company's stock valued at $184,617,000 after buying an additional 3,296,758 shares in the last quarter.

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