Teacher Retirement System of Texas boosted its position in Nabors Industries Ltd. (NYSE:NBR) by 12.4% during the second quarter, Holdings Channel reports. The firm owned 38,971 shares of the company’s stock after buying an additional 4,286 shares during the period. Teacher Retirement System of Texas’ holdings in Nabors Industries were worth $392,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LLC purchased a new position in shares of Nabors Industries during the first quarter worth $118,000. Janney Montgomery Scott LLC bought a new stake in Nabors Industries during the second quarter worth approximately $150,000. LS Investment Advisors LLC boosted its stake in Nabors Industries by 77.7% in the second quarter. LS Investment Advisors LLC now owns 16,763 shares of the company’s stock worth $168,000 after buying an additional 7,332 shares in the last quarter. Brave Asset Management Inc boosted its stake in Nabors Industries by 36.2% in the second quarter. Brave Asset Management Inc now owns 18,800 shares of the company’s stock worth $189,000 after buying an additional 5,000 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Nabors Industries during the first quarter worth approximately $195,000. Institutional investors and hedge funds own 93.06% of the company’s stock.
Nabors Industries Ltd. (NYSE:NBR) opened at 12.99 on Monday. Nabors Industries Ltd. has a 52-week low of $4.93 and a 52-week high of $13.11. The company has a 50 day moving average of $10.51 and a 200-day moving average of $9.71. The stock’s market capitalization is $3.68 billion.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.19. The firm had revenue of $571.60 million for the quarter, compared to analysts’ expectations of $497.83 million. Nabors Industries had a negative net margin of 39.78% and a negative return on equity of 6.31%. Nabors Industries’s revenue was down 40.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) earnings per share. Equities research analysts anticipate that Nabors Industries Ltd. will post ($1.21) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th were given a dividend of $0.06 per share. The ex-dividend date was Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a yield of 1.90%. Nabors Industries’s dividend payout ratio (DPR) is -6.56%.
A number of research firms have recently commented on NBR. Zacks Investment Research cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Simmons reissued a “neutral” rating and set a $12.50 target price (up previously from $12.25) on shares of Nabors Industries in a research note on Monday, August 8th. Argus reissued a “hold” rating on shares of Nabors Industries in a research note on Friday, September 23rd. Jefferies Group reissued a “hold” rating and set a $10.00 target price (up previously from $9.00) on shares of Nabors Industries in a research note on Monday, August 8th. Finally, Nomura set a $8.00 target price on shares of Nabors Industries and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Seven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.54.
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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