Dimensional Fund Advisors LP Has $172.51 Million Holdings in Nabors Industries Ltd. (NBR)
Dimensional Fund Advisors LP grew its position in Nabors Industries Ltd. (NYSE:NBR) by 11.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,376,769 shares of the oil and gas company’s stock after acquiring an additional 2,243,068 shares during the period. Dimensional Fund Advisors LP owned about 7.48% of Nabors Industries worth $172,511,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of NBR. Capstone Asset Management Co. raised its position in shares of Nabors Industries by 0.9% in the second quarter. Capstone Asset Management Co. now owns 23,571 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 220 shares during the period. Aperio Group LLC raised its position in shares of Nabors Industries by 30.2% during the 2nd quarter. Aperio Group LLC now owns 126,989 shares of the oil and gas company’s stock worth $1,034,000 after purchasing an additional 29,450 shares during the last quarter. Texas Permanent School Fund raised its position in shares of Nabors Industries by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 208,665 shares of the oil and gas company’s stock worth $1,699,000 after purchasing an additional 2,073 shares during the last quarter. Arizona State Retirement System raised its position in shares of Nabors Industries by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock worth $981,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Nabors Industries by 41.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 1,531,263 shares of the oil and gas company’s stock worth $12,464,000 after purchasing an additional 446,543 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.
NBR has been the subject of several research analyst reports. Societe Generale initiated coverage on shares of Nabors Industries in a research report on Thursday, August 31st. They set a “hold” rating and a $7.00 price target for the company. Jefferies Group upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating and upped their price target for the stock from $6.19 to $9.00 in a research report on Wednesday, November 8th. Citigroup restated a “buy” rating and set a $8.00 price target (down previously from $9.00) on shares of Nabors Industries in a research report on Wednesday, September 13th. BMO Capital Markets restated a “hold” rating and set a $8.00 price target on shares of Nabors Industries in a research report on Wednesday, September 6th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $12.50 price target on shares of Nabors Industries in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $11.07.
Shares of Nabors Industries Ltd. (NYSE NBR) traded down $0.01 during midday trading on Wednesday, reaching $6.01. 11,409,800 shares of the company traded hands, compared to its average volume of 8,624,740. Nabors Industries Ltd. has a one year low of $5.32 and a one year high of $18.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The business had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. During the same period in the prior year, the company posted ($0.55) EPS. The firm’s revenue was up 27.4% on a year-over-year basis. equities analysts forecast that Nabors Industries Ltd. will post -1.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 annualized dividend and a yield of 3.99%. Nabors Industries’s dividend payout ratio is presently -8.96%.
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Nabors Industries Company 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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