Nordea Investment Management AB Acquires Shares of 237,731 Nabors Industries Ltd. (NBR)
Nordea Investment Management AB acquired a new stake in Nabors Industries Ltd. (NYSE:NBR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 237,731 shares of the oil and gas company’s stock, valued at approximately $1,935,000. Nordea Investment Management AB owned 0.08% of Nabors Industries as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in NBR. Bollard Group LLC increased its holdings in Nabors Industries by 1.2% in the second quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock valued at $2,541,000 after buying an additional 3,816 shares in the last quarter. Mitchell Group Inc. increased its holdings in Nabors Industries by 52.0% in the second quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock valued at $22,015,000 after buying an additional 925,140 shares in the last quarter. Paloma Partners Management Co increased its holdings in Nabors Industries by 117.2% in the first quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock valued at $901,000 after buying an additional 37,175 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Nabors Industries by 4.3% in the second quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 979 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Nabors Industries by 1.5% in the second quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.
A number of research analysts have issued reports on NBR shares. Zacks Investment Research raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine cut shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Wells Fargo & Company cut shares of Nabors Industries from an “outperform” rating to a “market perform” rating in a report on Friday, July 7th. Guggenheim raised shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, August 15th. Finally, Societe Generale started coverage on shares of Nabors Industries in a report on Thursday, August 31st. They issued a “hold” rating and a $7.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $12.52.
Shares of Nabors Industries Ltd. (NYSE:NBR) opened at 7.81 on Thursday. The firm has a 50-day moving average of $7.19 and a 200 day moving average of $8.97. The stock’s market capitalization is $2.23 billion. Nabors Industries Ltd. has a 1-year low of $6.18 and a 1-year high of $18.40.
Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The firm 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 firm earned ($0.35) EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that Nabors Industries Ltd. will post ($1.50) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.07%. Nabors Industries’s dividend payout ratio is currently -9.41%.
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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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