Point72 Europe London LLP Sells 288,250 Shares of Nabors Industries Ltd. (NBR)
Point72 Europe London LLP lowered its stake in Nabors Industries Ltd. (NYSE:NBR) by 68.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,577 shares of the oil and gas company’s stock after selling 288,250 shares during the quarter. Point72 Europe London LLP’s holdings in Nabors Industries were worth $1,071,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Bollard Group LLC grew its stake in shares of Nabors Industries by 1.2% in the second quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock valued at $2,541,000 after buying an additional 3,816 shares in the last quarter. Mitchell Group Inc. grew its stake in shares of Nabors Industries by 52.0% in the second quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock valued at $22,015,000 after buying an additional 925,140 shares in the last quarter. Paloma Partners Management Co grew its stake in shares of Nabors Industries by 117.2% in the first quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock valued at $901,000 after buying an additional 37,175 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Nabors Industries by 4.3% in the second quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 979 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Nabors Industries by 1.5% in the second quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.
A number of equities research analysts have recently issued reports on NBR shares. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Cowen and Company lowered their target price on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Morgan Stanley lowered their target price on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. Citigroup Inc. set a $10.00 target price on Nabors Industries and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered Nabors Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. Nabors Industries has a consensus rating of “Buy” and an average price target of $12.62.
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Nabors Industries Ltd. (NYSE NBR) traded down 5.319% on Friday, reaching $7.565. The company’s stock had a trading volume of 3,945,198 shares. Nabors Industries Ltd. has a 52 week low of $6.18 and a 52 week high of $18.40. The firm’s market capitalization is $2.16 billion. The stock’s 50 day moving average is $7.24 and its 200-day moving average is $8.96.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The firm had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The company’s revenue was up 21.9% on a year-over-year basis. Analysts predict that Nabors Industries Ltd. will post ($1.50) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.00%. Nabors Industries’s dividend payout ratio is -9.41%.
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.
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