Texas Permanent School Fund lifted its position in Nabors Industries Ltd. (NYSE:NBR) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 227,457 shares of the oil and gas company’s stock after acquiring an additional 18,568 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of Nabors Industries worth $1,458,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of NBR. Guggenheim Capital LLC lifted its stake in shares of Nabors Industries by 15.7% in the 4th quarter. Guggenheim Capital LLC now owns 364,591 shares of the oil and gas company’s stock valued at $2,490,000 after purchasing an additional 49,524 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Nabors Industries by 169.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,385 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 9,679 shares during the last quarter. BancorpSouth Bank bought a new stake in shares of Nabors Industries in the 1st quarter valued at approximately $489,000. Swiss National Bank lifted its stake in shares of Nabors Industries by 1.8% in the 1st quarter. Swiss National Bank now owns 551,855 shares of the oil and gas company’s stock valued at $3,857,000 after purchasing an additional 9,800 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Nabors Industries by 3.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,723,564 shares of the oil and gas company’s stock valued at $12,048,000 after purchasing an additional 59,864 shares during the last quarter. Institutional investors and hedge funds own 87.01% of the company’s stock.

Shares of NBR stock opened at $6.47 on Friday. Nabors Industries Ltd. has a 52-week low of $5.32 and a 52-week high of $8.86. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.04 and a quick ratio of 1.84. The company has a market cap of $2.32 billion, a P/E ratio of -3.97 and a beta of 1.58.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.15). Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The business had revenue of $761.92 million for the quarter, compared to the consensus estimate of $755.76 million. During the same period in the prior year, the business posted ($0.41) earnings per share. Nabors Industries’s revenue was up 20.7% on a year-over-year basis. research analysts expect that Nabors Industries Ltd. will post -0.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Tuesday, September 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Monday, September 10th. Nabors Industries’s dividend payout ratio is currently -14.72%.

Several research firms have recently issued reports on NBR. Piper Jaffray Companies set a $9.00 price objective on Nabors Industries and gave the company a “hold” rating in a research note on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Nabors Industries in a research note on Wednesday. Societe Generale raised Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Friday, August 3rd. Seaport Global Securities reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Nabors Industries in a research note on Thursday, August 2nd. Finally, ValuEngine raised Nabors Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $9.18.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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

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