Nabors Industries Sees Unusually High Options Volume (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBR) was the target of unusually large options trading activity on Thursday. Stock investors acquired 43,167 call options on the stock. This represents an increase of approximately 1,766% compared to the average daily volume of 2,313 call options.

Several hedge funds have recently made changes to their positions in the company. Utah Retirement Systems lifted its holdings in shares of Nabors Industries by 1.0% during the 2nd quarter. Utah Retirement Systems now owns 50,740 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 500 shares during the period. M&T Bank Corp lifted its holdings in shares of Nabors Industries by 6.0% during the 2nd quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 925 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Nabors Industries by 3.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,833 shares of the oil and gas company’s stock worth $267,000 after acquiring an additional 1,015 shares during the period. Frontier Wealth Management LLC increased its position in Nabors Industries by 11.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 1,284 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Nabors Industries by 3.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 99,514 shares of the oil and gas company’s stock worth $809,000 after purchasing an additional 3,516 shares in the last quarter. Institutional investors and hedge funds own 87.79% of the company’s stock.

Several analysts have recently weighed in on NBR shares. Jefferies Group upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $6.19 to $9.00 in a research report on Wednesday, November 8th. Royal Bank of Canada set a $8.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $6.00 price target on shares of Nabors Industries and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, Credit Suisse Group set a $8.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.75.

Nabors Industries (NYSE NBR) opened at $8.19 on Tuesday. The stock has a market cap of $2,601.62, a PE ratio of -3.06 and a beta of 1.59. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. Nabors Industries has a 1-year low of $5.32 and a 1-year high of $17.92.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million during the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. Nabors Industries’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.55) earnings per share. equities research analysts predict that Nabors Industries will post -1.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 2.93%. Nabors Industries’s payout ratio is currently -8.96%.

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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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