State of Tennessee Treasury Department trimmed its position in shares of Nabors Industries (NYSE:NBR) by 41.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,000 shares of the oil and gas company’s stock after selling 80,000 shares during the quarter. State of Tennessee Treasury Department’s holdings in Nabors Industries were worth $785,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brave Asset Management Inc. bought a new stake in shares of Nabors Industries during the third quarter worth $101,000. Oakbrook Investments LLC purchased a new stake in shares of Nabors Industries during the fourth quarter worth about $103,000. State of Alaska Department of Revenue purchased a new stake in shares of Nabors Industries during the fourth quarter worth about $109,000. Cetera Advisors LLC purchased a new stake in shares of Nabors Industries during the third quarter worth about $115,000. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Nabors Industries by 59.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 17,905 shares of the oil and gas company’s stock worth $122,000 after acquiring an additional 6,708 shares during the last quarter. 87.22% of the stock is owned by institutional investors.
A number of brokerages recently commented on NBR. Stephens initiated coverage on Nabors Industries in a research report on Tuesday, January 9th. They issued an “equal weight” rating and a $8.00 target price on the stock. Seaport Global Securities reissued a “buy” rating and issued a $13.00 price objective on shares of Nabors Industries in a research note on Thursday, January 18th. JPMorgan Chase cut Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 target price for the company. in a report on Wednesday, January 17th. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research cut Nabors Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. Nabors Industries has an average rating of “Hold” and an average price target of $10.07.
NYSE NBR traded down $0.19 on Friday, reaching $6.69. 5,932,687 shares of the stock traded hands, compared to its average volume of 9,238,479. The firm has a market cap of $2,063.62, a P/E ratio of -4.10 and a beta of 1.60. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.39 and a current ratio of 1.57. Nabors Industries has a 12 month low of $5.32 and a 12 month high of $14.28.
Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.01). The business had revenue of $708.28 million during the quarter, compared to analysts’ expectations of $706.35 million. Nabors Industries had a negative net margin of 21.32% and a negative return on equity of 15.56%. Nabors Industries’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) EPS. research analysts predict that Nabors Industries will post -0.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 13th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, March 12th. Nabors Industries’s dividend payout ratio is currently -14.72%.
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Nabors Industries Company Profile
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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