Nabors Industries Ltd. (NYSE:NBR) Plans Quarterly Dividend of $0.01

Nabors Industries Ltd. (NYSE:NBR) announced a quarterly dividend on Wednesday, April 24th, NASDAQ reports. Investors of record on Tuesday, June 11th will be given a dividend of 0.01 per share by the oil and gas company on Tuesday, July 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, June 10th.

Nabors Industries has a dividend payout ratio of -3.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Nabors Industries to earn ($0.39) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -10.3%.

Shares of NYSE:NBR traded up $0.14 during midday trading on Monday, reaching $3.04. 16,304,649 shares of the company traded hands, compared to its average volume of 13,007,558. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.39. Nabors Industries has a 12 month low of $1.81 and a 12 month high of $6.85. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.41 and a beta of 2.50. The business’s fifty day moving average price is $2.72.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The company had revenue of $809.31 million for the quarter, compared to the consensus estimate of $774.35 million. Nabors Industries had a negative net margin of 19.68% and a negative return on equity of 14.79%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. As a group, equities analysts anticipate that Nabors Industries will post -0.91 earnings per share for the current year.

NBR has been the topic of a number of research analyst reports. Citigroup decreased their target price on Nabors Industries from $8.00 to $6.70 and set a “buy” rating on the stock in a research note on Tuesday, March 12th. Zacks Investment Research upgraded Nabors Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 6th. ValuEngine upgraded Nabors Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Goldman Sachs Group initiated coverage on Nabors Industries in a research note on Sunday, March 10th. They issued a “neutral” rating and a $4.00 target price on the stock. Finally, AltaCorp Capital restated a “sector perform” rating on shares of Nabors Industries in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $7.06.

In related news, CFO William J. Restrepo bought 177,100 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $2.03 per share, for a total transaction of $359,513.00. Following the acquisition, the chief financial officer now directly owns 2,136,255 shares of the company’s stock, valued at approximately $4,336,597.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.02% of the company’s stock.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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Dividend History for Nabors Industries (NYSE:NBR)

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