Hussman Strategic Advisors Inc. maintained its position in Nabors Industries Ltd. (NYSE:NBR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the oil and gas company’s stock at the end of the second quarter. Hussman Strategic Advisors Inc.’s holdings in Nabors Industries were worth $814,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Nabors Industries by 7,474.6% in the first quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after buying an additional 24,486,309 shares in the last quarter. Renaissance Technologies LLC increased its position in Nabors Industries by 414.1% in the first quarter. Renaissance Technologies LLC now owns 4,467,589 shares of the oil and gas company’s stock valued at $58,391,000 after buying an additional 3,598,589 shares in the last quarter. Bank of New York Mellon Corp increased its position in Nabors Industries by 30.4% in the first quarter. Bank of New York Mellon Corp now owns 14,125,222 shares of the oil and gas company’s stock valued at $184,617,000 after buying an additional 3,296,758 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Nabors Industries during the first quarter valued at approximately $35,002,000. Finally, Bank of America Corp DE increased its position in Nabors Industries by 29.1% in the first quarter. Bank of America Corp DE now owns 5,933,232 shares of the oil and gas company’s stock valued at $77,547,000 after buying an additional 1,336,220 shares in the last quarter. Hedge funds and other institutional investors own 98.65% of the company’s stock.
Shares of Nabors Industries Ltd. (NBR) traded up 3.46% on Friday, reaching $6.57. The company’s stock had a trading volume of 9,003,443 shares. Nabors Industries Ltd. has a 12-month low of $6.18 and a 12-month high of $18.40. The company’s 50 day moving average price is $7.43 and its 200 day moving average price is $10.76. The company’s market cap is $1.88 billion.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by $0.03. The business had revenue of $630.50 million during the quarter, compared to the consensus estimate of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. Analysts forecast that Nabors Industries Ltd. will post ($1.49) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th will be given a $0.06 dividend. The ex-dividend date is Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.65%. Nabors Industries’s dividend payout ratio (DPR) is presently -9.41%.
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NBR has been the subject of several research reports. Citigroup Inc. reiterated a “buy” rating on shares of Nabors Industries in a research report on Wednesday, May 10th. Zacks Investment Research downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. ValuEngine downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 27th. Goldman Sachs Group, Inc. (The) downgraded Nabors Industries from a “conviction-buy” rating to a “buy” rating and increased their target price for the company from $17.50 to $18.00 in a research report on Friday, April 28th. Finally, Wells Fargo & Company downgraded Nabors Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $14.00.
In other Nabors Industries news, CFO William J. Restrepo acquired 22,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average cost of $8.25 per share, with a total value of $181,500.00. Following the transaction, the chief financial officer now owns 959,694 shares of the company’s stock, valued at approximately $7,917,475.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.
About Nabors Industries
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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