Nabors Industries Ltd. (NBR) Shares Sold by Strs Ohio
Strs Ohio cut its position in Nabors Industries Ltd. (NYSE:NBR) by 32.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,041,000 shares of the company’s stock after selling 500,000 shares during the period. Strs Ohio owned 0.37% of Nabors Industries worth $10,462,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its position 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 worth $91,073,000 after buying an additional 797,028 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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. Norges Bank acquired a new position in shares of Nabors Industries during the fourth quarter valued at about $37,105,000. Renaissance Technologies LLC boosted its position in shares of 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. Finally, HBK Investments L P boosted its position in shares of 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. 93.06% of the stock is owned by institutional investors and hedge funds.
Shares of Nabors Industries Ltd. (NYSE:NBR) traded up 3.05% during trading on Friday, reaching $12.16. 7,035,696 shares of the company’s stock were exchanged. Nabors Industries Ltd. has a 52 week low of $4.93 and a 52 week high of $12.33. The stock has a 50 day moving average price of $10.17 and a 200-day moving average price of $9.60. The stock’s market capitalization is $3.45 billion.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.19. The company had revenue of $571.60 million for the quarter, compared to analyst estimates of $497.83 million. Nabors Industries had a negative net margin of 39.78% and a negative return on equity of 6.31%. The business’s quarterly revenue was down 40.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) earnings per share. Analysts predict that Nabors Industries Ltd. will post ($1.21) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 13th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.97%. Nabors Industries’s dividend payout ratio is currently -6.56%.
Several research analysts recently issued reports on the stock. Nomura set a $8.00 target price on shares of Nabors Industries and gave the stock a “hold” rating in a report on Tuesday, August 16th. Zacks Investment Research cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. DA Davidson assumed coverage on shares of Nabors Industries in a report on Thursday, September 15th. They set a “buy” rating and a $16.00 target price for the company. 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 report on Monday, August 8th. Finally, Argus reissued a “hold” rating on shares of Nabors Industries in a report on Friday, September 23rd. Eight equities research 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. The company 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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