Nabors Industries Ltd. (NBR) Stake Decreased by Bamco Inc. NY
Bamco Inc. NY cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 21.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,800 shares of the oil and gas company’s stock after selling 24,900 shares during the quarter. Bamco Inc. NY’s holdings in Nabors Industries were worth $731,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of NBR. BlackRock Inc. increased its holdings in shares of Nabors Industries by 7,474.6% in the 1st quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after purchasing an additional 24,486,309 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Nabors Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 22,714,902 shares of the oil and gas company’s stock valued at $184,900,000 after purchasing an additional 149,637 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Nabors Industries by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 19,723,712 shares of the oil and gas company’s stock valued at $257,786,000 after purchasing an additional 1,053,328 shares during the period. Morgan Stanley lifted its stake in shares of Nabors Industries by 0.6% in the first quarter. Morgan Stanley now owns 18,787,378 shares of the oil and gas company’s stock valued at $245,552,000 after purchasing an additional 114,423 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Nabors Industries by 16.4% in the second quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock valued at $133,828,000 after purchasing an additional 2,315,688 shares during the period. 95.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nabors Industries Ltd. (NYSE NBR) opened at 7.80 on Wednesday. The stock’s 50 day moving average is $7.16 and its 200 day moving average is $8.98. Nabors Industries Ltd. has a 52 week low of $6.18 and a 52 week high of $18.40. The stock’s market capitalization is $2.23 billion.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company had revenue of $630.50 million for the quarter, compared to analyst estimates of $589.79 million. During the same quarter in the prior year, the business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts anticipate that Nabors Industries Ltd. will post ($1.50) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.08%. Nabors Industries’s dividend payout ratio is presently -9.41%.
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A number of brokerages have issued reports on NBR. Zacks Investment Research raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Wells Fargo & Company lowered Nabors Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, July 7th. Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, August 15th. Finally, Societe Generale started coverage on Nabors Industries in a report on Thursday, August 31st. They issued a “hold” rating and a $7.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $12.77.
About Nabors Industries
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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