Caxton Associates LP Buys Shares of 1,262,500 Nabors Industries Ltd. (NBR)
Caxton Associates LP bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,262,500 shares of the oil and gas company’s stock, valued at approximately $10,277,000. Caxton Associates LP owned approximately 0.44% of Nabors Industries at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of NBR. American Century Companies Inc. purchased a new position in shares of Nabors Industries during the 1st quarter worth approximately $230,000. US Bancorp DE raised its stake in shares of Nabors Industries by 86.9% during the 1st quarter. US Bancorp DE now owns 33,672 shares of the oil and gas company’s stock worth $440,000 after buying an additional 15,660 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Nabors Industries by 1.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 335,523 shares of the oil and gas company’s stock worth $4,385,000 after buying an additional 6,122 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Nabors Industries during the 1st quarter worth approximately $1,275,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Nabors Industries by 0.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,812 shares of the oil and gas company’s stock worth $481,000 after buying an additional 317 shares in the last quarter. 95.71% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $12.00 price target (down previously from $14.00) on shares of Nabors Industries in a report on Friday. Citigroup Inc. set a $10.00 price target on Nabors Industries and gave the stock a “buy” rating in a report on Thursday. SunTrust Banks, Inc. restated a “buy” rating and issued a $9.00 price target (down previously from $20.00) on shares of Nabors Industries in a report on Tuesday. Zacks Investment Research upgraded Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Finally, Jefferies Group LLC restated a “neutral” rating on shares of Nabors Industries in a report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. Nabors Industries presently has an average rating of “Buy” and a consensus target price of $12.24.
Nabors Industries Ltd. (NYSE:NBR) traded down 5.51% on Friday, reaching $7.55. The company’s stock had a trading volume of 9,005,312 shares. Nabors Industries Ltd. has a 1-year low of $6.18 and a 1-year high of $18.40. The company’s market capitalization is $2.16 billion. The stock has a 50 day moving average price of $7.28 and a 200-day moving average price of $8.92.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the 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 business had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. During the same period in the previous year, the firm posted ($0.35) EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts predict that Nabors Industries Ltd. will post ($1.50) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, September 11th. Nabors Industries’s payout ratio is presently -9.41%.
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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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