Strs Ohio decreased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 32.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,041,000 shares of the company’s stock after selling 500,000 shares during the period. Strs Ohio’s holdings in Nabors Industries were worth $10,462,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of NBR. Norges Bank bought a new stake in Nabors Industries during the fourth quarter worth $37,105,000. JPMorgan Chase & Co. increased its stake in Nabors Industries by 217.5% in the first quarter. JPMorgan Chase & Co. now owns 4,646,232 shares of the company’s stock worth $42,745,000 after buying an additional 3,182,840 shares during the last quarter. Renaissance Technologies LLC increased its stake in Nabors Industries by 182.1% in the first quarter. Renaissance Technologies LLC now owns 2,814,000 shares of the company’s stock worth $25,889,000 after buying an additional 1,816,495 shares during the last quarter. HBK Investments L P increased its stake in Nabors Industries by 131.4% in the first quarter. HBK Investments L P now owns 2,721,800 shares of the company’s stock worth $25,041,000 after buying an additional 1,545,424 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Nabors Industries by 119.5% in the first quarter. Prudential Financial Inc. now owns 2,340,189 shares of the company’s stock worth $21,530,000 after buying an additional 1,274,200 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.
Nabors Industries Ltd. (NYSE:NBR) traded up 3.05% during mid-day trading on Friday, reaching $12.16. The company’s stock had a trading volume of 7,035,696 shares. The company’s market cap is $3.45 billion. The stock’s 50 day moving average is $10.17 and its 200 day moving average is $9.60. Nabors Industries Ltd. has a 12 month low of $4.93 and a 12 month high of $12.33.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.19. The company had revenue of $571.60 million for the quarter, compared to analysts’ expectations of $497.83 million. Nabors Industries had a negative return on equity of 6.31% and a negative net margin of 39.78%. The business’s revenue for the quarter was down 40.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Equities research analysts predict that Nabors Industries Ltd. will post ($1.21) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 13th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, September 9th. Nabors Industries’s payout ratio is presently -6.56%.
NBR has been the subject of a number of recent analyst reports. Seaport Global Securities raised shares of Nabors Industries from a “neutral” rating to a “buy” rating in a research report on Friday, July 8th. Stephens raised shares of Nabors Industries from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 12th. Zacks Investment Research raised shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, August 8th. Jefferies Group reissued a “hold” rating and set a $10.00 price target (up previously from $9.00) on shares of Nabors Industries in a research report on Monday, August 8th. Finally, Simmons reissued a “neutral” rating and set a $12.50 price target (up previously from $12.25) on shares of Nabors Industries in a research report on Monday, August 8th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Nabors Industries presently has a consensus rating of “Buy” and an average price target of $11.42.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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