Nabors Industries Ltd. (NYSE:NBR) was downgraded by Stephens from an “overweight” rating to an “equal weight” rating in a research report issued on Thursday, The Fly reports. They currently have a $8.00 price objective on the stock. Stephens’ price target indicates a potential upside of 41.09% from the company’s current price.

Other analysts have also issued research reports about the company. Howard Weil decreased their price objective on Nabors Industries from $14.00 to $13.00 and set a “sector perform” rating on the stock in a report on Monday, November 2nd. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, November 2nd. Jefferies Group decreased their price target on Nabors Industries from $8.00 to $7.00 and set an “underperform” rating on the stock in a research note on Monday, November 2nd. Deutsche Bank decreased their price target on Nabors Industries from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. Finally, SunTrust decreased their price target on Nabors Industries from $12.00 to $10.00 in a research note on Wednesday, January 13th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $12.74.

Several large investors recently made changes to their positions in the company. Park National boosted its stake in shares of Nabors Industries by 30.0% in the fourth quarter. Park National now owns 41,159 shares of the company’s stock worth $350,000 after buying an additional 9,491 shares during the period. Creative Planning boosted its stake in shares of Nabors Industries by 29.7% in the fourth quarter. Creative Planning now owns 308,515 shares of the company’s stock worth $2,625,000 after buying an additional 70,625 shares during the period. Finally, Janus Capital Management boosted its stake in shares of Nabors Industries by 3,119.7% in the third quarter. Janus Capital Management now owns 900,400 shares of the company’s stock worth $8,509,000 after buying an additional 872,435 shares during the period.

Shares of Nabors Industries (NYSE:NBR) traded down 9.86% on Thursday, reaching $5.67. The company had a trading volume of 7,214,136 shares. The company has a 50-day moving average price of $7.80 and a 200-day moving average price of $9.99. The firm’s market cap is $1.87 billion. Nabors Industries has a one year low of $4.93 and a one year high of $16.99.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Thursday, December 10th were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.23%.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It provides drilling technology and equipment and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

12 Month Chart for NYSE:NBR

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