Ameriprise Financial Inc. Sells 348,819 Shares of Nabors Industries Ltd. (NBR)
Ameriprise Financial Inc. decreased its holdings in Nabors Industries Ltd. (NYSE:NBR) by 24.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,103,419 shares of the oil and gas company’s stock after selling 348,819 shares during the quarter. Ameriprise Financial Inc. owned 0.39% of Nabors Industries worth $8,985,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Wright Investors Service Inc. grew its position in Nabors Industries by 2.2% in the second 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 during the last quarter. Invictus RG acquired a new position in Nabors Industries in the first quarter worth approximately $109,000. Carlton Hofferkamp & Jenks Wealth Management LLC grew its position in Nabors Industries by 3.3% in the second 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 during the last quarter. Aviance Capital Management LLC acquired a new position in Nabors Industries in the first quarter worth approximately $143,000. Finally, Point72 Asia Hong Kong Ltd grew its position in Nabors Industries by 92.2% in the first 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 during the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.
Shares of Nabors Industries Ltd. (NYSE:NBR) opened at 7.35 on Friday. The firm’s 50 day moving average is $7.41 and its 200-day moving average is $8.71. The firm’s market cap is $2.10 billion. Nabors Industries Ltd. has a 52 week low of $6.18 and a 52 week high of $18.40.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. During the same period in the prior year, the company earned ($0.35) EPS. The firm’s revenue was up 21.9% on a year-over-year basis. Equities research analysts predict that Nabors Industries Ltd. will post ($1.49) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, September 11th. Nabors Industries’s dividend payout ratio is -9.41%.
Several research firms have issued reports on NBR. Deutsche Bank AG began coverage on shares of Nabors Industries in a research report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price target on the stock. Seaport Global Securities restated a “neutral” rating on shares of Nabors Industries in a research report on Friday, August 4th. Cowen and Company decreased their price target on shares of Nabors Industries from $13.00 to $10.50 and set an “outperform” rating on the stock in a research report 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 report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $12.00 price target (down previously from $14.00) on shares of Nabors Industries in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $12.05.
Nabors Industries Profile
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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