BlueCrest Capital Management Ltd acquired a new position in Nabors Industries Ltd. (NYSE:NBR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 24,473 shares of the oil and gas company’s stock, valued at approximately $167,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in Nabors Industries by 12.5% during the 3rd quarter. First Trust Advisors LP now owns 176,106 shares of the oil and gas company’s stock valued at $1,421,000 after buying an additional 19,625 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Nabors Industries by 41.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 72,155 shares of the oil and gas company’s stock valued at $582,000 after buying an additional 21,085 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Nabors Industries during the 3rd quarter valued at about $198,000. BNP Paribas Arbitrage SA increased its stake in Nabors Industries by 4.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 313,302 shares of the oil and gas company’s stock valued at $2,528,000 after buying an additional 13,145 shares during the period. Finally, Sei Investments Co. increased its stake in Nabors Industries by 77.1% during the 3rd quarter. Sei Investments Co. now owns 347,607 shares of the oil and gas company’s stock valued at $2,806,000 after buying an additional 151,280 shares during the period. 87.22% of the stock is currently owned by institutional investors and hedge funds.
NBR has been the topic of several research analyst reports. Zacks Investment Research raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. ValuEngine cut shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. cut shares of Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research note on Wednesday, January 17th. Stephens initiated coverage on shares of Nabors Industries in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 target price on the stock. Finally, Royal Bank of Canada set a $8.00 target price on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, December 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $10.89.
Nabors Industries stock opened at $7.55 on Thursday. Nabors Industries Ltd. has a fifty-two week low of $5.32 and a fifty-two week high of $14.28. The company has a market cap of $2,177.21, a PE ratio of -3.97 and a beta of 1.68. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 1.37.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Nabors Industries had a negative return on equity of 15.56% and a negative net margin of 21.32%. The firm had revenue of $708.28 million during the quarter, compared to analyst estimates of $706.35 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. sell-side analysts predict that Nabors Industries Ltd. will post -0.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 13th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, March 12th. Nabors Industries’s payout ratio is -12.63%.
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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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