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

Nabors Industries Ltd. (NYSE:NBR) was the recipient of some unusual options trading activity on Friday. Stock traders acquired 2,287 call options on the company. This is an increase of 238% compared to the average daily volume of 677 call options.

Nabors Industries Stock Performance

NBR stock opened at $101.72 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.82 and a debt-to-equity ratio of 5.01. Nabors Industries has a 52 week low of $59.90 and a 52 week high of $141.47. The firm’s fifty day moving average is $73.58 and its 200 day moving average is $78.21.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) EPS for the quarter, missing the consensus estimate of ($1.77) by ($2.52). Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The business had revenue of $742.98 million for the quarter, compared to the consensus estimate of $737.91 million. During the same period in the prior year, the business posted ($2.26) EPS. Nabors Industries’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Nabors Industries will post -6.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

A number of large investors have recently added to or reduced their stakes in NBR. RIA Advisory Group LLC purchased a new stake in shares of Nabors Industries in the 4th quarter worth about $980,000. Goldman Sachs Group Inc. lifted its position in Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after acquiring an additional 209,450 shares during the period. Elm Ridge Management LLC lifted its position in Nabors Industries by 17.6% during the 4th quarter. Elm Ridge Management LLC now owns 30,374 shares of the oil and gas company’s stock valued at $2,479,000 after acquiring an additional 4,553 shares during the period. Dimensional Fund Advisors LP lifted its position in Nabors Industries by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock valued at $24,102,000 after acquiring an additional 13,324 shares during the period. Finally, Gendell Jeffrey L raised its holdings in Nabors Industries by 3.2% in the fourth quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock worth $32,350,000 after buying an additional 12,119 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

NBR has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of Nabors Industries in a research note on Thursday, April 25th. Susquehanna lowered their target price on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $114.00 price target on shares of Nabors Industries in a report on Thursday. Finally, Citigroup decreased their price target on shares of Nabors Industries from $95.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $108.50.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.