Sippican Capital Advisors Cuts Holdings in Nabors Industries Ltd. (NBR)

Sippican Capital Advisors trimmed its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 29.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,123 shares of the oil and gas company’s stock after selling 58,959 shares during the quarter. Sippican Capital Advisors’ holdings in Nabors Industries were worth $943,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NBR. Prudential Financial Inc. boosted its position in Nabors Industries by 278.9% during the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after acquiring an additional 2,915,370 shares in the last quarter. Victory Capital Management Inc. boosted its position in Nabors Industries by 101.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after acquiring an additional 2,354,975 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Nabors Industries by 11.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after acquiring an additional 2,243,068 shares in the last quarter. FMR LLC boosted its position in 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 valued at $69,068,000 after acquiring an additional 2,118,198 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Nabors Industries by 47.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock valued at $32,637,000 after acquiring an additional 1,302,284 shares in the last quarter. 87.79% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. JPMorgan Chase & Co. cut Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Wednesday. Cowen set a $9.00 price objective on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, January 11th. Citigroup set a $10.00 price target on Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, October 5th. SunTrust Banks reissued a “buy” rating and issued a $9.00 price target (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd. Finally, Deutsche Bank initiated coverage on Nabors Industries in a research report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $10.67.

Nabors Industries Ltd. (NBR) traded up $0.08 during mid-day trading on Wednesday, reaching $8.32. The company had a trading volume of 8,609,336 shares, compared to its average volume of 14,829,110. The company has a market cap of $2,640.00, a PE ratio of -3.10 and a beta of 1.59. Nabors Industries Ltd. has a fifty-two week low of $5.32 and a fifty-two week high of $17.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The business had revenue of $662.50 million during the quarter, compared to the consensus estimate 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 was up 27.4% compared to the same quarter last year. During the same period last year, the company posted ($0.55) earnings per share. analysts predict that Nabors Industries Ltd. will post -1.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.24 annualized dividend and a yield of 2.89%. Nabors Industries’s dividend payout ratio (DPR) is presently -8.96%.

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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.

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

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