BlueCrest Capital Management Ltd lowered its position in Nabors Industries Ltd. (NYSE:NBR) by 65.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 51,365 shares of the oil and gas company’s stock after selling 96,863 shares during the period. BlueCrest Capital Management Ltd’s holdings in Nabors Industries were worth $418,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NBR. BlackRock Inc. raised its holdings in shares of Nabors Industries by 7,474.6% during the 1st quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock worth $324,317,000 after acquiring an additional 24,486,309 shares during the period. Sirios Capital Management L P raised its holdings in shares of Nabors Industries by 246.1% during the 2nd quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock worth $32,844,000 after acquiring an additional 2,869,187 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Nabors Industries by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock worth $133,828,000 after acquiring an additional 2,315,688 shares during the period. FMR LLC raised its holdings in shares of Nabors Industries by 33.3% during the 2nd quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after acquiring an additional 2,118,198 shares during the period. Finally, Ardevora Asset Management LLP increased its position in shares of Nabors Industries by 64.5% during the 2nd quarter. Ardevora Asset Management LLP now owns 3,276,700 shares of the oil and gas company’s stock worth $26,672,000 after purchasing an additional 1,284,800 shares during the last quarter. Institutional investors own 95.57% of the company’s stock.
Nabors Industries Ltd. (NBR) traded down 6.107% during trading on Friday, hitting $5.765. The stock had a trading volume of 13,177,996 shares. The firm’s 50 day moving average is $7.41 and its 200 day moving average is $8.34. Nabors Industries Ltd. has a 1-year low of $5.52 and a 1-year high of $18.40. The firm’s market cap is $1.65 billion.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). The business had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.55) earnings per share. On average, analysts anticipate that Nabors Industries Ltd. will post ($1.52) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were paid 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 yield of 3.91%. Nabors Industries’s dividend payout ratio (DPR) is -8.96%.
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A number of brokerages recently issued reports on NBR. BidaskClub downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Citigroup Inc. set a $10.00 target price on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, October 5th. BMO Capital Markets reissued a “hold” rating and set a $8.00 price objective (down from $13.00) on shares of Nabors Industries in a research report on Thursday, July 13th. SunTrust Banks, Inc. reissued a “buy” rating and set a $9.00 price objective (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $11.50 price objective on shares of Nabors Industries in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.77.
Nabors Industries Company 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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