Nabors Industries Ltd. (NYSE: NBR) benefited from a significant drop in overdraft interest during the month of December. As of December 15, there was short interest totaling 433,600 shares, down 18.4% from the total of 531,100 shares as of November 30. Based on an average daily trading volume of 138,500 shares, the day-to-coverage ratio is currently 3.1 days. About 5.6% of the company’s shares are sold short.
NBR shares opened at $ 94.76 on Friday. The stock has a fifty-day moving average price of $ 90.68 and a 200-day moving average price of $ 93.37. Nabors Industries has a 12 month low of $ 55.01 and a 12 month high of $ 133.61. The company has a current ratio of 2.56, a quick ratio of 2.30, and a debt ratio of 3.69. The company has a market cap of $ 780.92 million, a PE ratio of -1.20 and a beta of 3.39.
Nabors Industries (NYSE: NBR) last released its quarterly results on Tuesday, October 26. The oil and gas company reported ($ 15.79) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($ 12.90) by ($ 2.89). Nabors Industries recorded a negative return on equity of 51.87% and a negative net margin of 29.33%. The company posted revenue of $ 524.37 million for the quarter, compared to analysts’ estimates of $ 503.63 million. In the same quarter of last year, the company made earnings per share ($ 22.81). As a group, research analysts predict that Nabors Industries will post -60.04 EPS for the current year.
A number of research companies have recently commented on the NBR. The Royal Bank of Canada reaffirmed the âcustodyâ rating of Nabors Industries shares in a research note on Tuesday, November 23. Atb Cap Markets upgraded Nabors Industries from an “underperforming” rating to an “outperforming” rating in a report published on Wednesday September 29th. Finally, Barclays raised its price target on Nabors Industries from $ 87.00 to $ 115 and gave the company an “equal weight” rating in a report released on Monday, October 25.
Several institutional investors have recently changed their holdings in NBR. First Trust Advisors LP increased its stake in shares of Nabors Industries by 49.3% during the first quarter. First Trust Advisors LP now owns 1,569,190 shares of the oil and gas company valued at $ 5,398,000 after acquiring an additional 518,376 shares during the period. Arizona State Retirement System acquired a new position in Nabors Industries during the second quarter valued at approximately $ 206,000. American Century Companies Inc. increased its position in Nabors Industries by 201.3% during the second quarter. American Century Companies Inc. now owns 19,432 shares of the oil and gas company valued at $ 2,220,000 after purchasing an additional 12,983 shares during the period. The Swiss National Bank acquired a new position in Nabors Industries during the second quarter valued at approximately $ 1,668,000. Finally, Meeder Asset Management Inc. increased its position in Nabors Industries by 559.8% during the second quarter. Meeder Asset Management Inc. now owns 607 shares of the oil and gas company valued at $ 69,000 after purchasing an additional 515 shares during the period. Institutional investors and hedge funds hold 74.19% of the company’s shares.
About Nabors Industries
Nabors Industries Ltd. provides work platforms and drilling platforms. It operates in the following segments: drilling in the United States, drilling in Canada, international drilling, drilling solutions and platform technologies. The US Drilling segment includes onshore drilling operations in the lower 48 states and Alaska, as well as offshore operations in the Gulf of Mexico.
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