D.A. Davidson & CO. Acquires 11,585 Shares of Nabors Industries Ltd. (NBR)
D.A. Davidson & CO. grew its holdings in Nabors Industries Ltd. (NYSE:NBR) by 162.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,700 shares of the oil and gas company’s stock after buying an additional 11,585 shares during the period. D.A. Davidson & CO.’s holdings in Nabors Industries were worth $152,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of NBR. Wright Investors Service Inc. grew its stake in shares of Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after buying an additional 265 shares in the last quarter. Invictus RG purchased a new position in shares of Nabors Industries in the 1st quarter worth $109,000. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in shares of Nabors Industries by 3.3% in the 2nd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock worth $110,000 after buying an additional 435 shares in the last quarter. Aviance Capital Management LLC purchased a new position in shares of Nabors Industries in the 1st quarter worth $143,000. Finally, Point72 Asia Hong Kong Ltd grew its stake in shares of Nabors Industries by 92.2% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock worth $147,000 after buying an additional 5,401 shares in the last quarter. 95.71% of the stock is owned by institutional investors and hedge funds.
Shares of Nabors Industries Ltd. (NYSE NBR) opened at 7.55 on Monday. Nabors Industries Ltd. has a 52-week low of $6.18 and a 52-week high of $18.40. The stock’s market cap is $2.16 billion. The firm’s 50-day moving average is $7.28 and its 200 day moving average is $8.92.
Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). The business had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) earnings per share. Analysts forecast that Nabors Industries Ltd. will post ($1.50) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.18%. Nabors Industries’s payout ratio is -9.41%.
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A number of brokerages have commented on NBR. Royal Bank Of Canada reissued an “outperform” rating and issued a $12.00 price objective (down from $14.00) on shares of Nabors Industries in a research note on Friday. Seaport Global Securities reaffirmed a “neutral” rating on shares of Nabors Industries in a research note on Friday, August 4th. Cowen and Company dropped their price target on shares of Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Credit Suisse Group set a $9.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Finally, Jefferies Group LLC set a $8.00 price target on shares of Nabors Industries and gave the stock a “hold” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Nabors Industries has a consensus rating of “Buy” and an average target price of $12.24.
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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