Comerica Bank decreased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,721 shares of the oil and gas company’s stock after selling 13,296 shares during the quarter. Comerica Bank owned approximately 0.09% of Nabors Industries worth $708,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teza Capital Management LLC boosted its position in Nabors Industries by 27.7% during the first quarter. Teza Capital Management LLC now owns 13,967 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 3,027 shares in the last quarter. Mason Street Advisors LLC raised its stake in Nabors Industries by 3.7% in the first quarter. Mason Street Advisors LLC now owns 104,858 shares of the oil and gas company’s stock valued at $361,000 after buying an additional 3,744 shares during the last quarter. Magnus Financial Group LLC raised its stake in shares of Nabors Industries by 7.7% in the first quarter. Magnus Financial Group LLC now owns 54,418 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 3,902 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Nabors Industries by 26.2% in the second quarter. Advisory Services Network LLC now owns 21,780 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 4,515 shares during the last quarter. Finally, BB&T Corp raised its stake in shares of Nabors Industries by 31.4% in the second quarter. BB&T Corp now owns 20,500 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 4,900 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. Citigroup set a $3.00 price objective on Nabors Industries and gave the stock a “hold” rating in a research note on Tuesday, July 2nd. Bank of America lowered Nabors Industries from a “buy” rating to a “neutral” rating in a report on Wednesday, August 28th. ValuEngine raised Nabors Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. AltaCorp Capital reissued a “sector perform” rating on shares of Nabors Industries in a report on Thursday, June 20th. Finally, Susquehanna Bancshares set a $3.00 price target on Nabors Industries and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.75.
In other Nabors Industries news, Director Tanya S. Beder bought 50,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $2.31 per share, for a total transaction of $115,500.00. Following the completion of the purchase, the director now directly owns 219,409 shares of the company’s stock, valued at $506,834.79. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.02% of the stock is owned by company insiders.
NBR traded up $0.09 on Friday, hitting $2.30. 6,549,096 shares of the company were exchanged, compared to its average volume of 11,122,854. The company has a current ratio of 1.90, a quick ratio of 1.67 and a debt-to-equity ratio of 1.45. The company has a market cap of $830.51 million, a price-to-earnings ratio of -1.83 and a beta of 2.65. The firm has a 50-day moving average price of $2.09 and a two-hundred day moving average price of $2.86. Nabors Industries Ltd. has a twelve month low of $1.60 and a twelve month high of $6.65.
Nabors Industries (NYSE:NBR) last issued its earnings results on Monday, July 29th. The oil and gas company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.40). Nabors Industries had a negative return on equity of 16.01% and a negative net margin of 19.75%. The firm had revenue of $771.40 million during the quarter, compared to analysts’ expectations of $801.17 million. During the same period last year, the business posted ($0.42) earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Nabors Industries Ltd. will post -1.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.04 annualized dividend and a dividend yield of 1.74%. Nabors Industries’s dividend payout ratio is presently -3.17%.
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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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