Huntington National Bank held its stake in Nabors Industries Ltd. (NYSE:NBR) during the second quarter, according to its most recent filing with the SEC. The fund owned 7,554 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Nabors Industries were worth $103,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its stake in Nabors Industries by 8.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,899,264 shares of the company’s stock valued at $91,073,000 after buying an additional 797,028 shares during the last quarter. JPMorgan Chase & Co. boosted 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 valued at $42,745,000 after buying an additional 3,182,840 shares during the period. Renaissance Technologies LLC boosted 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 valued at $25,889,000 after buying an additional 1,816,495 shares during the period. HBK Investments L P boosted 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 valued at $25,041,000 after buying an additional 1,545,424 shares during the period. Finally, Prudential Financial Inc. boosted 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 valued at $21,530,000 after buying an additional 1,274,200 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.
Nabors Industries Ltd. (NYSE:NBR) traded up 2.62% during trading on Monday, hitting $12.93. The stock had a trading volume of 7,079,912 shares. The firm’s market cap is $3.66 billion. The firm’s 50 day moving average is $10.51 and its 200 day moving average is $9.71. Nabors Industries Ltd. has a 1-year low of $4.93 and a 1-year high of $13.11.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.19. Nabors Industries had a negative return on equity of 6.31% and a negative net margin of 39.78%. The company had revenue of $571.60 million for the quarter, compared to the consensus estimate of $497.83 million. During the same quarter in the previous year, the business earned ($0.14) EPS. The company’s quarterly revenue was down 40.1% compared to the same quarter last year. On average, analysts anticipate that Nabors Industries Ltd. will post ($1.21) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 13th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, September 9th. Nabors Industries’s dividend payout ratio is presently -6.56%.
Several equities research analysts have recently commented on NBR shares. Citigroup Inc. upped their price target on Nabors Industries from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded Nabors Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Friday, August 19th. Stephens upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 12th. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating in a research note on Friday, July 8th. Finally, Capital One Financial Corp. upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research note on Monday, September 19th. Seven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $11.54.
Nabors Industries Company Profile
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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