Sei Investments Co. reduced its stake in Nabors Industries Ltd. (NYSE:NBR) by 19.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 256,420 shares of the oil and gas company’s stock after selling 60,683 shares during the quarter. Sei Investments Co. owned 0.08% of Nabors Industries worth $1,793,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Thunderbird Partners LLP acquired a new stake in Nabors Industries during the 4th quarter worth approximately $37,219,000. BlackRock Inc. lifted its holdings in Nabors Industries by 15.3% during the 4th quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock worth $190,080,000 after buying an additional 3,700,602 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Nabors Industries by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 26,742,876 shares of the oil and gas company’s stock worth $186,933,000 after buying an additional 1,973,537 shares in the last quarter. Slate Path Capital LP acquired a new stake in Nabors Industries during the 4th quarter worth approximately $11,748,000. Finally, Two Sigma Investments LP lifted its holdings in Nabors Industries by 8,354.3% during the 4th quarter. Two Sigma Investments LP now owns 1,436,739 shares of the oil and gas company’s stock worth $9,813,000 after buying an additional 1,454,145 shares in the last quarter. Hedge funds and other institutional investors own 85.89% of the company’s stock.
Shares of NYSE:NBR opened at $6.20 on Tuesday. Nabors Industries Ltd. has a 52 week low of $5.32 and a 52 week high of $8.86. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -3.80 and a beta of 1.58.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, May 1st. The oil and gas company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.01). Nabors Industries had a negative net margin of 19.81% and a negative return on equity of 14.45%. The firm had revenue of $734.66 million during the quarter, compared to analysts’ expectations of $763.99 million. research analysts forecast that Nabors Industries Ltd. will post -0.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Tuesday, June 12th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Monday, June 11th. Nabors Industries’s dividend payout ratio is presently -14.72%.
A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of Nabors Industries to $9.50 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Cowen reiterated a “buy” rating and set a $10.00 target price on shares of Nabors Industries in a report on Friday, April 13th. ValuEngine upgraded shares of Nabors Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, June 2nd. Finally, Morgan Stanley increased their target price on shares of Nabors Industries from $8.50 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.29.
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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