Legal & General Group Plc boosted its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 692,229 shares of the oil and gas company’s stock after acquiring an additional 12,145 shares during the quarter. Legal & General Group Plc owned 0.19% of Nabors Industries worth $4,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NBR. Canada Pension Plan Investment Board increased its holdings in shares of Nabors Industries by 15.5% in the third quarter. Canada Pension Plan Investment Board now owns 514,800 shares of the oil and gas company’s stock valued at $3,171,000 after purchasing an additional 69,000 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Nabors Industries by 48.7% in the third quarter. Virtu Financial LLC now owns 123,720 shares of the oil and gas company’s stock valued at $762,000 after acquiring an additional 40,499 shares in the last quarter. Energy Opportunities Capital Management LLC grew its stake in shares of Nabors Industries by 23.1% in the second quarter. Energy Opportunities Capital Management LLC now owns 279,617 shares of the oil and gas company’s stock valued at $1,792,000 after acquiring an additional 52,500 shares in the last quarter. Miller Value Partners LLC grew its stake in shares of Nabors Industries by 25.5% in the second quarter. Miller Value Partners LLC now owns 87,900 shares of the oil and gas company’s stock valued at $563,000 after acquiring an additional 17,870 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Nabors Industries by 72.6% in the second quarter. Voya Investment Management LLC now owns 141,233 shares of the oil and gas company’s stock valued at $906,000 after acquiring an additional 59,423 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently commented on NBR shares. Royal Bank of Canada set a $12.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, September 20th. Piper Jaffray Companies set a $8.00 price target on shares of Nabors Industries and gave the company a “hold” rating in a research note on Wednesday, October 3rd. Wolfe Research started coverage on shares of Nabors Industries in a research note on Wednesday, October 10th. They issued an “outperform” rating on the stock. Cowen restated a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a research note on Friday, October 12th. Finally, Guggenheim restated a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a research note on Friday, October 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.56.

Shares of Nabors Industries stock opened at $2.93 on Wednesday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -1.80 and a beta of 1.95. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.82 and a current ratio of 2.05. Nabors Industries Ltd. has a 12-month low of $1.81 and a 12-month high of $8.86.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). The firm had revenue of $779.43 million for the quarter, compared to analyst estimates of $800.78 million. Nabors Industries had a negative return on equity of 14.21% and a negative net margin of 19.25%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.42) earnings per share. On average, analysts predict that Nabors Industries Ltd. will post -1.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 3rd. Shareholders of record on Thursday, December 13th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 8.19%. Nabors Industries’s payout ratio is -14.72%.

In related news, Director John P. Kotts bought 100,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $5.61 per share, with a total value of $561,000.00. Following the completion of the acquisition, the director now owns 301,949 shares of the company’s stock, valued at $1,693,933.89. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Yearwood bought 197,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was bought at an average cost of $5.14 per share, with a total value of $1,012,580.00. The disclosure for this purchase can be found here. Corporate insiders own 4.15% of the company’s stock.

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About Nabors Industries

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., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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

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