Virtu KCG Holdings LLC Lowers Stake in Nabors Industries Ltd. (NBR)
Virtu KCG Holdings LLC cut its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 82.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,644 shares of the oil and gas company’s stock after selling 90,298 shares during the period. Virtu KCG Holdings LLC’s holdings in Nabors Industries were worth $152,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. OppenheimerFunds Inc. grew its position in Nabors Industries by 112.0% in the 1st quarter. OppenheimerFunds Inc. now owns 65,917 shares of the oil and gas company’s stock valued at $862,000 after buying an additional 34,831 shares during the last quarter. Wellington Management Group LLP grew its position in Nabors Industries by 112.9% in the 1st quarter. Wellington Management Group LLP now owns 531,026 shares of the oil and gas company’s stock valued at $6,941,000 after buying an additional 281,641 shares during the last quarter. Vanguard Group Inc. grew its position in Nabors Industries by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 22,565,265 shares of the oil and gas company’s stock valued at $294,929,000 after buying an additional 1,035,970 shares during the last quarter. Geode Capital Management LLC grew its position in Nabors Industries by 10.0% in the 1st quarter. Geode Capital Management LLC now owns 2,214,794 shares of the oil and gas company’s stock valued at $28,946,000 after buying an additional 201,951 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in Nabors Industries by 0.6% in the 1st quarter. New York State Teachers Retirement System now owns 472,501 shares of the oil and gas company’s stock valued at $6,176,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.
Nabors Industries Ltd. (NYSE:NBR) opened at 5.55 on Tuesday. The firm’s market cap is $1.59 billion. The stock’s 50 day moving average price is $7.32 and its 200 day moving average price is $8.13. Nabors Industries Ltd. has a 1-year low of $5.32 and a 1-year high of $18.40.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. During the same period in the prior year, the business earned ($0.55) EPS. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. Equities research analysts predict that Nabors Industries Ltd. will post ($1.58) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 4.32%. Nabors Industries’s dividend payout ratio is currently -8.96%.
NBR has been the topic of a number of analyst reports. Credit Suisse Group set a $9.00 price objective on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. UBS AG reiterated a “buy” rating and issued a $11.00 price objective (down from $17.00) on shares of Nabors Industries in a research report on Thursday, July 6th. Nomura set a $12.00 price objective on shares of Nabors Industries and gave the company a “buy” rating in a research report on Wednesday, August 9th. Guggenheim upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Tuesday, August 15th. Finally, Seaport Global Securities upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. Nabors Industries currently has an average rating of “Buy” and an average target price of $11.64.
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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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