Donald Smith & CO. Inc. reduced its stake in Nabors Industries Ltd. (NYSE:NBR) by 28.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,749,223 shares of the oil and gas company’s stock after selling 708,546 shares during the quarter. Donald Smith & CO. Inc.’s holdings in Nabors Industries were worth $6,017,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Mason Street Advisors LLC lifted its position in shares of Nabors Industries by 3.7% in the first quarter. Mason Street Advisors LLC now owns 104,858 shares of the oil and gas company’s stock valued at $361,000 after acquiring an additional 3,744 shares in the last quarter. Magnus Financial Group LLC lifted its position in shares of Nabors Industries by 7.7% in the first quarter. Magnus Financial Group LLC now owns 54,418 shares of the oil and gas company’s stock valued at $187,000 after acquiring an additional 3,902 shares in the last quarter. Vanguard Capital Wealth Advisors lifted its position in shares of Nabors Industries by 45.0% in the first quarter. Vanguard Capital Wealth Advisors now owns 14,500 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 4,500 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Nabors Industries by 0.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 584,963 shares of the oil and gas company’s stock valued at $2,012,000 after acquiring an additional 4,990 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Nabors Industries by 63.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 17,500 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Several equities analysts recently weighed in on the company. ValuEngine downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating in a research report on Thursday, March 14th. Zacks Investment Research upgraded Nabors Industries from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Argus downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Finally, Societe Generale set a $4.00 target price on Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, February 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $7.13.

NYSE NBR opened at $2.49 on Tuesday. Nabors Industries Ltd. has a twelve month low of $1.81 and a twelve month high of $7.67. The stock has a market cap of $857.05 million, a P/E ratio of -1.98 and a beta of 2.43. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.39.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, April 30th. The oil and gas company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.11). Nabors Industries had a negative return on equity of 14.79% and a negative net margin of 19.68%. The business had revenue of $809.31 million for the quarter, compared to analysts’ expectations of $774.35 million. During the same quarter last year, the company posted ($0.46) earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Nabors Industries Ltd. will post -0.91 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.04 annualized dividend and a yield of 1.61%. Nabors Industries’s dividend payout ratio is presently -3.17%.

TRADEMARK VIOLATION WARNING: This report was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.watchlistnews.com/donald-smith-co-inc-sells-708546-shares-of-nabors-industries-ltd-nbr/3031052.html.

Nabors Industries Company 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.

See Also: Cost of Capital Explained

Want to see what other hedge funds are holding NBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nabors Industries Ltd. (NYSE:NBR).

Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.