Moors & Cabot Inc. bought a new stake in Nabors Industries Ltd. (NYSE:NBR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,750 shares of the oil and gas company’s stock, valued at approximately $142,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brave Asset Management Inc. acquired a new stake in Nabors Industries during the 3rd quarter worth about $101,000. Oakbrook Investments LLC acquired a new stake in Nabors Industries during the 4th quarter worth about $103,000. State of Alaska Department of Revenue acquired a new stake in Nabors Industries during the 4th quarter worth about $109,000. Cetera Advisors LLC acquired a new stake in Nabors Industries during the 3rd quarter worth about $115,000. Finally, Oppenheimer & Co. Inc. grew its position in Nabors Industries by 59.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 17,905 shares of the oil and gas company’s stock worth $122,000 after purchasing an additional 6,708 shares during the period. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on NBR shares. Seaport Global Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Nabors Industries in a research report on Thursday, January 18th. Royal Bank of Canada set a $8.00 price target on Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, December 21st. Cowen set a $9.00 price target on Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, January 11th. Stephens started coverage on Nabors Industries in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 price target on the stock. Finally, Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $10.89.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.01). The company had revenue of $708.28 million during the quarter, compared to analysts’ expectations of $706.35 million. Nabors Industries had a negative net margin of 21.32% and a negative return on equity of 15.56%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) earnings per share. research analysts predict that Nabors Industries Ltd. will post -0.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Tuesday, March 13th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, March 12th. Nabors Industries’s dividend payout ratio is presently -12.63%.
WARNING: “Moors & Cabot Inc. Invests $142,000 in Nabors Industries Ltd. (NBR)” was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://www.tickerreport.com/banking-finance/3253457/moors-cabot-inc-invests-142000-in-nabors-industries-ltd-nbr.html.
About Nabors Industries
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.
Want to see what other hedge funds are holding NBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nabors Industries Ltd. (NYSE:NBR).
Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.