Rhumbline Advisers Sells 21,780 Shares of Nabors Industries Ltd. (NBR)
Rhumbline Advisers reduced its position in Nabors Industries Ltd. (NYSE:NBR) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 503,022 shares of the oil and gas company’s stock after selling 21,780 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Nabors Industries worth $4,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Frontier Wealth Management LLC boosted its holdings in shares of Nabors Industries by 11.4% in the second quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 1,284 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Nabors Industries in the third quarter worth $121,000. M&T Bank Corp boosted its holdings in shares of Nabors Industries by 6.0% in the second quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 925 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Nabors Industries by 162.8% in the second quarter. D.A. Davidson & CO. now owns 18,700 shares of the oil and gas company’s stock worth $152,000 after acquiring an additional 11,585 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in shares of Nabors Industries in the second quarter worth $166,000. 97.71% of the stock is owned by institutional investors and hedge funds.
Nabors Industries Ltd. (NYSE:NBR) traded down $0.19 during trading hours on Wednesday, reaching $6.22. The company had a trading volume of 7,076,300 shares, compared to its average volume of 8,618,011. Nabors Industries Ltd. has a 12 month low of $5.32 and a 12 month high of $18.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) 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 business 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 posted ($0.55) EPS. Nabors Industries’s quarterly revenue was up 27.4% on a year-over-year basis. equities research analysts anticipate that Nabors Industries Ltd. will post -1.61 EPS for the current 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. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.86%. Nabors Industries’s payout ratio is -8.96%.
A number of research firms have recently commented on NBR. Credit Suisse Group set a $9.00 price target on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Cowen cut their price target on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a report on Tuesday, August 8th. UBS cut their price target on Nabors Industries from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 27th. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Citigroup set a $10.00 price target on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.30.
Nabors Industries 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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