Pacer Advisors Inc. purchased a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 35,845 shares of the oil and gas company’s stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in shares of Nabors Industries by 0.9% during the 2nd quarter. Capstone Asset Management Co. now owns 23,571 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 220 shares during the last quarter. Wright Investors Service Inc. increased its position in shares of Nabors Industries by 2.2% during the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 265 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Nabors Industries by 0.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,812 shares of the oil and gas company’s stock valued at $481,000 after purchasing an additional 317 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Nabors Industries by 2.7% during the 1st quarter. Venturi Wealth Management LLC now owns 12,260 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 320 shares during the last quarter. Finally, World Asset Management Inc increased its position in shares of Nabors Industries by 1.7% during the 1st quarter. World Asset Management Inc now owns 23,099 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 381 shares during the last quarter. 95.60% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Ltd. (NYSE NBR) opened at 7.23 on Thursday. Nabors Industries Ltd. has a 52-week low of $6.18 and a 52-week high of $18.40. The stock’s 50 day moving average price is $6.97 and its 200-day moving average price is $9.65. The company’s market capitalization is $2.07 billion.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). The company had revenue of $630.50 million for the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted ($0.35) EPS. Analysts predict that Nabors Industries Ltd. will post ($1.50) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, September 11th. Nabors Industries’s dividend payout ratio (DPR) is currently -9.41%.

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NBR has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Nabors Industries in a research report on Tuesday, June 20th. UBS AG reissued a “buy” rating and issued a $11.00 target price (down from $17.00) on shares of Nabors Industries in a report on Thursday, July 6th. Deutsche Bank AG reissued a “buy” rating and issued a $13.00 target price (down from $20.00) on shares of Nabors Industries in a report on Tuesday, May 30th. Nomura set a $12.00 target price on shares of Nabors Industries and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Credit Suisse Group set a $9.00 target price on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.38.

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.

Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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