Trexquant Investment LP Purchases New Stake in Nabors Industries Ltd. (NBR)

Trexquant Investment LP bought a new position in Nabors Industries Ltd. (NYSE:NBR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 72,869 shares of the oil and gas company’s stock, valued at approximately $588,000.

A number of other institutional investors have also recently made changes to their positions in NBR. Mitchell Group Inc. increased its holdings in Nabors Industries by 52.0% in the 2nd quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock worth $22,015,000 after acquiring an additional 925,140 shares in the last quarter. HAP Trading LLC increased its holdings in Nabors Industries by 479.2% in the 3rd quarter. HAP Trading LLC now owns 44,361 shares of the oil and gas company’s stock worth $358,000 after acquiring an additional 56,061 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Nabors Industries by 4.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 979 shares in the last quarter. Arizona State Retirement System grew its holdings in Nabors Industries by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 1,800 shares in the last quarter. Finally, Comerica Bank grew its holdings in Nabors Industries by 4.3% during the 2nd quarter. Comerica Bank now owns 487,301 shares of the oil and gas company’s stock valued at $3,708,000 after buying an additional 20,177 shares in the last quarter. Institutional investors own 97.71% of the company’s stock.

A number of research analysts have recently commented on NBR shares. Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Tuesday, August 15th. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Friday, August 18th. Societe Generale initiated coverage on Nabors Industries in a research report on Thursday, August 31st. They set a “hold” rating and a $7.00 target price for the company. ValuEngine downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $12.50 price target on shares of Nabors Industries in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $11.07.

Nabors Industries Ltd. (NYSE NBR) traded down $0.04 during mid-day trading on Friday, reaching $6.04. The company’s stock had a trading volume of 7,361,620 shares, compared to its average volume of 8,508,437. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. Nabors Industries Ltd. has a 52 week low of $5.32 and a 52 week high of $18.40.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The business had revenue of $662.50 million during the quarter, compared to analysts’ expectations of $674.03 million. During the same period in the prior year, the firm earned ($0.55) EPS. Nabors Industries’s revenue for the quarter was up 27.4% on a year-over-year basis. equities analysts forecast that Nabors Industries Ltd. will post -1.63 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is presently -8.96%.

ILLEGAL ACTIVITY WARNING: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/12/11/trexquant-investment-lp-takes-position-in-nabors-industries-ltd-nbr.html.

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.

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

Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply