Nabors Industries Ltd. (NBR) Stake Boosted by Sippican Capital Advisors
Sippican Capital Advisors raised its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 24.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,082 shares of the oil and gas company’s stock after purchasing an additional 38,154 shares during the period. Nabors Industries accounts for approximately 1.6% of Sippican Capital Advisors’ investment portfolio, making the stock its 23rd biggest holding. Sippican Capital Advisors owned about 0.07% of Nabors Industries worth $1,590,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bollard Group LLC increased its position in shares of Nabors Industries by 1.2% during the second quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock worth $2,541,000 after purchasing an additional 3,816 shares in the last quarter. Mitchell Group Inc. increased its position in shares of Nabors Industries by 52.0% during the second quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock worth $22,015,000 after purchasing an additional 925,140 shares in the last quarter. Paloma Partners Management Co increased its position in shares of Nabors Industries by 117.2% during the first quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock worth $901,000 after purchasing an additional 37,175 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Nabors Industries by 4.3% during the second quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock worth $194,000 after purchasing an additional 979 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Nabors Industries by 1.5% during the second quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock worth $981,000 after purchasing an additional 1,800 shares in the last quarter. 95.77% of the stock is currently owned by institutional investors and hedge funds.
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Nabors Industries Ltd. (NYSE:NBR) traded up 1.42% during midday trading on Wednesday, hitting $5.71. 7,966,857 shares of the stock traded hands. The company’s 50 day moving average is $7.29 and its 200-day moving average is $8.11. The company’s market cap is $1.63 billion. Nabors Industries Ltd. has a one year low of $5.32 and a one year high of $18.40.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). The business had revenue of $662.50 million during the quarter, compared to analyst estimates of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.55) earnings per share. On average, equities research analysts forecast that Nabors Industries Ltd. will post ($1.58) EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $8.00 price target on shares of Nabors Industries in a research report on Wednesday, September 6th. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Nabors Industries in a research report on Thursday, September 7th. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. UBS AG reissued a “buy” rating and set a $11.00 price objective (down from $17.00) on shares of Nabors Industries in a report on Thursday, July 6th. Finally, Citigroup Inc. reissued a “buy” rating and set a $8.00 price objective (down from $9.00) on shares of Nabors Industries in a report on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. Nabors Industries has an average rating of “Buy” and an average price target of $11.64.
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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