Raymond James & Associates grew its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 31.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 108,451 shares of the oil and gas company’s stock after acquiring an additional 25,863 shares during the period. Raymond James & Associates’ holdings in Nabors Industries were worth $217,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in NBR. Texas Permanent School Fund raised its stake in Nabors Industries by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 213,065 shares of the oil and gas company’s stock worth $426,000 after buying an additional 8,271 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Nabors Industries by 11.1% in the third quarter. GSA Capital Partners LLP now owns 111,656 shares of the oil and gas company’s stock worth $688,000 after purchasing an additional 11,149 shares during the period. Legal & General Group Plc grew its holdings in Nabors Industries by 1.8% in the third quarter. Legal & General Group Plc now owns 692,229 shares of the oil and gas company’s stock worth $4,264,000 after purchasing an additional 12,145 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Nabors Industries in the fourth quarter worth $25,000. Finally, GWM Advisors LLC acquired a new stake in Nabors Industries in the fourth quarter worth $27,000. 87.33% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on NBR. Zacks Investment Research upgraded shares of Nabors Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. ValuEngine upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Societe Generale set a $4.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, February 28th. Finally, Argus cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $7.13.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, February 26th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $782.08 million for the quarter, compared to analyst estimates of $805.82 million. Nabors Industries had a negative net margin of 21.03% and a negative return on equity of 13.75%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) earnings per share. As a group, equities analysts expect that Nabors Industries Ltd. will post -0.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Monday, March 11th. Nabors Industries’s dividend payout ratio is currently -3.17%.
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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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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