1.7200 +0.01 (0.58%)
After hours: 6:26PM EDT
|Bid||1.7100 x 1400|
|Ask||1.7200 x 46000|
|Day's Range||1.7100 - 1.8900|
|52 Week Range||1.7100 - 6.6500|
|Beta (3Y Monthly)||3.18|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||0.04 (1.57%)|
|1y Target Est||3.80|
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Moody's Investors Service ("Moody's") changed Nabors Industries Inc.'s (Nabors) outlook to negative from stable. At the same time, Moody's downgraded the company's Speculative Grade Liquidity Rating to SGL-3 from SGL-2. Nabors' other ratings were affirmed, including the Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating (PDR), and B1 senior unsecured notes.
Nabors' (NBR) U.S. Drilling segment reports an operating income of $20.4 million in Q2, rebounding from the year-ago loss of $13.1 million on improved rig activity and solid margins.
(Bloomberg) -- Jim Crane, the businessman and former pitcher who owns the Houston Astros baseball team, was voted off of Nabors Industries Ltd.’s board by shareholders. But the board will keep him anyway, and that’s not the first time the shale-rig provider ignored investors.Crane, whose resignation was rejected by the board last week, had been voted down before, in 2017, and remained a director regardless. So has John Yearwood, who has failed to win over investors at least five times and is currently lead director. Mike Linn, who has been voted off twice in the last four years, still holds his seat. John Kotts and Howard Wolf, who is no longer on the board, also overstayed their welcome.“They are in a rarefied company,” Marc Goldstein, head of U.S. research at the proxy advisory firm Institutional Shareholder Services, said Monday in a phone interview. “Repeated failure of directors to get majority support is extremely rare, and most companies in that situation would want to get out of that rut and get back on shareholders’ good side.”One of the most notorious cases of a rejected executive staying on the board was SeaWorld Entertainment Inc.’s former chairman, David D’Alessandro, whose resignation was turned down in 2017 despite his failure to win enough shareholder backing.Nabors, owner of the world’s biggest fleet of land-drilling rigs, has been under attack for overpaying its executives while its shares have tanked as oil-service providers struggle to recover from a downturn that started in 2014.The company had a market value of as much as $14 billion in 2008. On Monday, the shares dropped 4.6% to $2.10 in New York, valuing Nabors at $762 million. They declined further in after-hours trading, to $2, after the company reported second-quarter operating revenue that was lower than analysts had estimated.The company said it has yet to benefit from higher demand for international rigs and said activity outside the U.S. and Canada should remain flat in the third quarter.Messages left with a representative for Crane weren’t immediately returned. Nabors didn’t immediately return phone and e-mail messages seeking comment.Nabors, in a filing late Friday, said that even though Crane failed to win a majority of votes for his re-election last month, his resignation was declined because of the company’s “improved safety record during Mr. Crane’s leadership of the Board’s Technology and Safety Committee, his well-known success in business, his relationships with senior energy industry executives as well as his significant expertise in global logistics.”The board will remove Crane from its compensation committee, though. Crane, who is also chairman of the power utility Champion Energy Services LLC, founded Houston-based Crane Worldwide Logistics more than a decade ago.He is also chairman and CEO of Crane Capital Group Inc., an investment company that indirectly owns a majority stake in several companies that do business with Nabors, including logistics and electricity, according to federal filings. Nabors has paid nearly $60 million from 2016 through 2018 for those services, Nabors said in its annual report.Chief Executive Officer Anthony Petrello, who has been among the highest-paid executives in the oil industry, agreed to take a pay cut this year, forfeiting $4 million in restricted stock in exchange for a symbolic award worth $1,500. The salary for Petrello, who took over as CEO in October 2011, is also dropping 10% this year to $1.58 million.While it’s incorporated in Bermuda, Nabors operational headquarters is in Houston. ISS will be taking a close look at Nabors outreach to shareholders before its next proxy statement is released, Goldstein said.“If an activist comes along, you’ve just handed them a huge issue,” Goldstein said. “It looks pretty clearly compensation-related, and we would expect there to be changes to the comp program, especially given that Nabors has had such persistent problems on that front.”(Updates with second-quarter report in sixth paragraph)To contact the reporters on this story: Carlos Caminada in Calgary at email@example.com;David Wethe in Houston at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, ;Andrew Monahan at firstname.lastname@example.org, Carlos Caminada, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Nabors (NBR) delivered earnings and revenue surprises of -95.24% and -3.33%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
HAMILTON, Bermuda , July 29, 2019 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today reported second quarter 2019 operating revenue of $771 million ...
Nabors Industries (NYSE: NBR ) announces its next round of earnings this Monday, July 29. Here is Benzinga's everything-that-matters guide for the Q2 earnings announcement. Earnings and Revenue Wall Street ...
The event is EnerCom's 24th annual Denver investment conference. At this year's conference, c-level leadership of leading oil and gas companies will present their plans for drilling and completing wells, discuss well results and capital efficiency, and estimate capital expenditures and production for the balance of 2019 and into 2020.
Nabors (NBR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
U.S. equities are treading water on Wednesday as the latest earnings season continues and investors digest an increasing flow of results. Transportation stocks, which I discussed yesterday, are dropping in response to mixed guidance from CSX (NYSE:CSX), but that looks like a buying opportunity ahead of a likely Federal Reserve interest rate cut later this month.One area of the market not looking good for new money, however, is energy. Oil and gas companies across the board are suffering nasty-looking breakdowns as geopolitical tensions with Iran have failed to materialize into any actual supply disruptions. The U.S. shale industry is too revved up, with a lowered cost base keeping the spigots turned on even as crude oil prices stagnate near $60. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip With the likes of Russia and Saudi Arabia unable to cut production enough to boost prices, the weakness looks set to continue. Here are six stocks to sell now:InvestorPlace - Stock Market News, Stock Advice & Trading Tips Energy Stocks Spilling Lower: Marathon Oil (MRO)Shares of Marathon Oil (NYSE:MRO) are breaking down, threatening a return to the December lows and setting up a possible decline to the summer 2017 lows near $10.50. Such a move would be worth a loss of more than 20% from here. Shares were recently downgraded to neutral by analysts at Atlantic Securities.The company will next report results on Aug. 7 after the close. Analysts are looking for earnings of 16 cents per share on revenues of $1.4 billion. When the company last reported on May 1, earnings of 31 cents per share beat estimates by 24 cents on a 30.9% decline in revenues. Nabors Industries (NBR)Nabors Industries (NYSE:NBR), which provides drilling services to the onshore and offshore oil industry, is also suffering breakdown out of its recent trading range, That's setting up a possible excursion back to its December lows. Shares are already down a whopping 86% from the high seen in early 2017 as oil prices hold steady near $60 a barrel. * 7 Dependable Dividend Stocks to Buy The company will next report results on July 29 after the close. Analysts are looking for a loss of 22 cents per share on revenues of $802 million. When the company last reported on April 30, a loss of 36 cents missed estimates by 10 cents on a 10.2% rise in revenues. BP Amoco (BP)BP Amoco (NYSE:BP) shares are falling away from a multi-month challenge of its 200-day moving average. That's confirming a messy-looking head-and-shoulders reversal pattern that traces to a low of $37. That would mark a test of the December low. The stock has been in a sideways pattern since the summer of 2018, unable to top resistance near the $45-a-share threshold.The company will next report results on July 30. Analysts are looking for earnings of 80 cents per share on revenues of $72 billion. When the company last reported on April 30, earnings of 70 cents per share beat estimates by 3 cents on a 2.7% decline in revenues. Transocean (RIG)Transocean (NYSE:RIG), which provides offshore drilling services including the ultra-deepwater segment, is falling away from its 50-day moving average and setting up a retest of the June low. The stock has already fallen below a multiyear trading range between $14 and $8 per share. The range was in play between 2015 and 2019. * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond The company will next report results on July 29 after the close. Analysts are looking for a loss of 33 cents per share on revenues of $766 million. When the company last reported on April 29, a loss of 30 cents beat estimates by a penny on a 13.6% rise in revenues. EnCana (ECA)Canadian oil company EnCana (NYSE:ECA) has violated its June low, which in turn violated its December low. That cleared the way for a decline to levels not seen since early 2016. Shares of lost more than two-thirds of their value from the highs seen as recently as late last year. The company recently announced it would sell its Arkoma Basin natural gas assets for $165 million.The company will next report results on July 31 before the bell. Analysts are looking for earnings of 18 cents per share on revenues of just over $2 billion. When the company last reported on April 30, earnings of 14 cents per share beat estimates by five cents. Devon Energy (DVN)Devon Energy (NYSE:DVN) is an independent oil and gas company based in Oklahoma. It has broken down out of its lower Bollinger Band to shy away yet again from its 200-day moving average. Watch for a decline back to the early June low and a likely violation back to the December low near $20. Such a move would be worth a loss of roughly 20% from here. * 10 Stocks to Sell for an Economic Slowdown The company will next report results on Aug. 6 after the close. Analysts are looking for earnings of 42 cents per share on revenues of $2.2 billion. When the company last reported on April 30, earnings of 36 cents per share beat estimates by eight cents.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post 6 Energy Stocks Spilling Lower appeared first on InvestorPlace.
Nabors Industries Ltd. (NYSE:NBR) is a small-cap stock with a market capitalization of US$835m. While investors...
HAMILTON, Bermuda , July 16, 2019 /PRNewswire/ -- Nabors Industries Ltd. (NYSE: NBR) invites you to join Anthony G. Petrello , Chairman and Chief Executive Officer, and William Restrepo , Chief Financial ...
Find out which Houston-based public companies have the highest-paid CEOs and how those executives' total compensation compares to the median employee pay at their companies.
In the week ending June 21, oilfield services stock Nabors Industries (NBR) rose the most among the stocks in the energy space. On June 18, RBC reduced its target price on Nabors Industries by $1 to $11.
Nik Wallenda is at it again. This weekend, Wallenda and his sister will be taking a 1,300 foot stroll across New York's Time Square. But this isn't just any stroll: They'll be walking 25 stories above the ground on a high wire, without harnesses or a net beneath them.
Anthony Petrello has been the CEO of Nabors Industries Ltd. (NYSE:NBR) since 2011. This report will, first, examine...