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%.
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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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