Metropolitan Life Insurance Co. NY Acquires 10,467 Shares of Nabors Industries Ltd. (NBR)

Metropolitan Life Insurance Co. NY boosted its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,334 shares of the oil and gas company’s stock after purchasing an additional 10,467 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Nabors Industries were worth $650,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NBR. Swiss National Bank increased its position in Nabors Industries by 1.8% during the first quarter. Swiss National Bank now owns 551,855 shares of the oil and gas company’s stock valued at $3,857,000 after acquiring an additional 9,800 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Nabors Industries by 3.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,723,564 shares of the oil and gas company’s stock valued at $12,048,000 after acquiring an additional 59,864 shares during the last quarter. Aperio Group LLC increased its position in Nabors Industries by 2.3% during the first quarter. Aperio Group LLC now owns 353,550 shares of the oil and gas company’s stock valued at $2,471,000 after acquiring an additional 7,818 shares during the last quarter. Northern Trust Corp increased its position in Nabors Industries by 1.5% during the first quarter. Northern Trust Corp now owns 2,857,698 shares of the oil and gas company’s stock valued at $19,975,000 after acquiring an additional 41,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Nabors Industries by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 26,742,876 shares of the oil and gas company’s stock valued at $186,933,000 after acquiring an additional 1,973,537 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

NYSE NBR opened at $6.14 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.84 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.23 billion, a PE ratio of -3.84 and a beta of 1.64. Nabors Industries Ltd. has a 12 month low of $5.32 and a 12 month high of $8.86.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.15). The company had revenue of $761.92 million during the quarter, compared to the consensus estimate of $755.76 million. Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.41) earnings per share. equities research analysts anticipate that Nabors Industries Ltd. will post -1.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Monday, September 10th. Nabors Industries’s payout ratio is presently -14.72%.

A number of research analysts have weighed in on NBR shares. Societe Generale upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Friday, August 3rd. Morgan Stanley upgraded shares of Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a research report on Thursday, July 12th. BMO Capital Markets set a $8.00 price objective on shares of Nabors Industries and gave the company a “hold” rating in a research report on Thursday, July 12th. ValuEngine upgraded shares of Nabors Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Guggenheim reiterated a “buy” rating and set a $13.00 price objective on shares of Nabors Industries in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $9.22.

Nabors Industries 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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