Prudential Financial Inc. grew its holdings in Nabors Industries Ltd. (NYSE:NBR) by 278.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,960,689 shares of the oil and gas company’s stock after purchasing an additional 2,915,370 shares during the period. Prudential Financial Inc. owned about 1.39% of Nabors Industries worth $31,963,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Wright Investors Service Inc. increased its holdings 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 valued at $102,000 after purchasing an additional 265 shares during the period. Frontier Wealth Management LLC grew its stake in shares of Nabors Industries by 11.4% in the 2nd quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 1,284 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of Nabors Industries in the 3rd quarter valued at approximately $121,000. M&T Bank Corp grew its stake in shares of Nabors Industries by 6.0% in the 2nd quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock valued at $133,000 after buying an additional 925 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Nabors Industries by 162.8% in the 2nd quarter. D.A. Davidson & CO. now owns 18,700 shares of the oil and gas company’s stock valued at $152,000 after buying an additional 11,585 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.
Nabors Industries Ltd. (NYSE NBR) opened at $5.71 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41. Nabors Industries Ltd. has a 12 month low of $5.32 and a 12 month high of $18.40.
Nabors Industries (NYSE:NBR) last issued its earnings results 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 firm 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 business’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) earnings per share. equities analysts anticipate that Nabors Industries Ltd. will post -1.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.20%. Nabors Industries’s payout ratio is -8.96%.
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NBR has been the subject of several recent research reports. cut Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Jefferies Group LLC set a $8.00 price target on Nabors Industries and gave the company a “hold” rating in a research note on Friday, August 4th. Morgan Stanley lowered their price target on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. reissued a “neutral” rating on shares of Nabors Industries in a research note on Friday, August 4th. Finally, lowered their price target on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $11.52.
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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