Engineers Gate Manager LP lessened its stake in Nabors Industries Ltd. (NYSE:NBR) by 35.8% during the second quarter, Holdings Channel reports. The firm owned 124,742 shares of the oil and gas company’s stock after selling 69,423 shares during the period. Engineers Gate Manager LP’s holdings in Nabors Industries were worth $800,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NBR. Grisanti Capital Management LLC purchased a new stake in Nabors Industries during the 2nd quarter worth $2,575,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Nabors Industries in the 2nd quarter worth about $740,000. LMR Partners LLP bought a new stake in shares of Nabors Industries in the 2nd quarter worth about $403,000. First Trust Advisors LP increased its position in shares of Nabors Industries by 72.5% in the 2nd quarter. First Trust Advisors LP now owns 950,878 shares of the oil and gas company’s stock worth $6,095,000 after purchasing an additional 399,494 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Nabors Industries by 147.7% in the 2nd quarter. Comerica Bank now owns 658,037 shares of the oil and gas company’s stock worth $4,027,000 after purchasing an additional 392,430 shares during the last quarter. Institutional investors own 86.97% of the company’s stock.

Shares of NYSE:NBR opened at $5.99 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.04 and a debt-to-equity ratio of 1.24. Nabors Industries Ltd. has a fifty-two week low of $5.32 and a fifty-two week high of $8.86. The stock has a market cap of $2.31 billion, a P/E ratio of -3.67 and a beta of 1.58.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, July 31st. The oil and gas company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.15). Nabors Industries had a negative net margin of 21.21% and a negative return on equity of 14.97%. The business had revenue of $761.92 million for the quarter, compared to the consensus estimate of $755.76 million. During the same period in the prior year, the company earned ($0.41) EPS. Nabors Industries’s quarterly revenue was up 20.7% on a year-over-year basis. equities analysts expect that Nabors Industries Ltd. will post -0.97 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Tuesday, September 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, September 10th. Nabors Industries’s dividend payout ratio is presently -14.72%.

Several research firms have recently weighed in on NBR. ValuEngine downgraded shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Guggenheim reissued a “buy” rating and issued a $13.00 target price on shares of Nabors Industries in a research report on Wednesday, August 8th. Piper Jaffray Companies set a $9.00 target price on shares of Nabors Industries and gave the stock a “hold” rating in a research report on Tuesday, August 7th. Seaport Global Securities reissued a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a research report on Thursday, August 2nd. Finally, Citigroup dropped their target price on shares of Nabors Industries from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.18.

Nabors Industries Company Profile

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., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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