Great West Life Assurance Co. Can Decreases Position in Nabors Industries Ltd. (NBR)
Great West Life Assurance Co. Can reduced its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 16.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 192,869 shares of the oil and gas company’s stock after selling 36,667 shares during the period. Great West Life Assurance Co. Can owned about 0.07% of Nabors Industries worth $1,567,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Nabors Industries by 7,474.6% in the first quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after buying an additional 24,486,309 shares during the period. Renaissance Technologies LLC boosted its stake in Nabors Industries by 414.1% in the first quarter. Renaissance Technologies LLC now owns 4,467,589 shares of the oil and gas company’s stock valued at $58,391,000 after buying an additional 3,598,589 shares during the period. Bank of New York Mellon Corp boosted its stake in Nabors Industries by 30.4% in the first quarter. Bank of New York Mellon Corp now owns 14,125,222 shares of the oil and gas company’s stock valued at $184,617,000 after buying an additional 3,296,758 shares during the period. Deprince Race & Zollo Inc. bought a new stake in Nabors Industries during the first quarter valued at about $35,002,000. Finally, Bank of America Corp DE boosted its stake in Nabors Industries by 29.1% in the first quarter. Bank of America Corp DE now owns 5,933,232 shares of the oil and gas company’s stock valued at $77,547,000 after buying an additional 1,336,220 shares during the period. 95.60% of the stock is owned by institutional investors.
Nabors Industries Ltd. (NYSE NBR) opened at 6.47 on Thursday. The firm’s market cap is $1.85 billion. Nabors Industries Ltd. has a 52 week low of $6.18 and a 52 week high of $18.40. The firm’s 50-day moving average is $7.26 and its 200-day moving average is $10.42.
Nabors Industries (NYSE:NBR) last announced 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 Thomson Reuters’ 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 firm had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. During the same quarter last year, the business earned ($0.35) earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that Nabors Industries Ltd. will post ($1.49) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, September 11th. Nabors Industries’s dividend payout ratio (DPR) is presently -9.41%.
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Several equities research analysts have recently weighed in on NBR shares. Citigroup Inc. reaffirmed a “buy” rating on shares of Nabors Industries in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. ValuEngine cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 27th. Wells Fargo & Co cut shares of Nabors Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, July 7th. Finally, Jefferies Group LLC lowered their price target on shares of Nabors Industries from $15.00 to $11.50 and set a “hold” rating for the company in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $14.00.
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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