Several other hedge funds and other institutional investors also recently made changes to their positions in NBR. Aviance Capital Management LLC acquired a new position in Nabors Industries during the first quarter valued at $143,000. City Financial Investment Co Ltd acquired a new position in Nabors Industries during the first quarter valued at $3,921,000. Point72 Asia Hong Kong Ltd boosted its position in Nabors Industries by 92.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 5,401 shares in the last quarter. Point72 Europe London LLP boosted its position in Nabors Industries by 70.2% in the first quarter. Point72 Europe London LLP now owns 419,827 shares of the oil and gas company’s stock valued at $5,487,000 after buying an additional 173,148 shares in the last quarter. Finally, Fore Research & Management LP acquired a new position in Nabors Industries during the first quarter valued at $326,000. 98.65% of the stock is currently owned by institutional investors.
Nuveen Asset Management LLC increased its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 199,493 shares of the oil and gas company’s stock after buying an additional 12,914 shares during the period. Nuveen Asset Management LLC owned about 0.07% of Nabors Industries worth $2,607,000 as of its most recent SEC filing.
Shares of Nabors Industries Ltd. (NBR) remained flat at $7.05 during mid-day trading on Tuesday. 7,940,787 shares of the company’s stock were exchanged. Nabors Industries Ltd. has a 12-month low of $6.93 and a 12-month high of $18.40. The firm’s market cap is $1.97 billion. The company’s 50 day moving average price is $7.79 and its 200 day moving average price is $11.49.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.03. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $589.79 million. During the same period in the previous year, the business posted ($0.35) EPS. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts forecast that Nabors Industries Ltd. will post ($1.42) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.40%. Nabors Industries’s dividend payout ratio is presently -9.41%.
Several brokerages have issued reports on NBR. Cowen and Company lowered their target price on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating on the stock in a research note on Tuesday. Seaport Global Securities restated a “neutral” rating on shares of Nabors Industries in a research note on Friday. Morgan Stanley lowered their target price on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday. Jefferies Group LLC set a $8.00 target price on Nabors Industries and gave the company a “hold” rating in a research note on Friday. Finally, BidaskClub lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $14.54.
In other Nabors Industries news, CFO William J. Restrepo purchased 22,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was bought at an average price of $8.25 per share, with a total value of $181,500.00. Following the transaction, the chief financial officer now directly owns 959,694 shares of the company’s stock, valued at approximately $7,917,475.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.
Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.