LMR Partners LLP Sells 28,429 Shares of Nabors Industries Ltd. (NBR)
LMR Partners LLP cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 48.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,438 shares of the oil and gas company’s stock after selling 28,429 shares during the period. LMR Partners LLP’s holdings in Nabors Industries were worth $246,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in Nabors Industries by 1.7% during the third quarter. Van ECK Associates Corp now owns 16,252,747 shares of the oil and gas company’s stock valued at $131,160,000 after purchasing an additional 274,089 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in Nabors Industries by 4.1% during the third quarter. Donald Smith & CO. Inc. now owns 2,158,781 shares of the oil and gas company’s stock valued at $17,421,000 after purchasing an additional 85,911 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Nabors Industries during the third quarter valued at approximately $601,000. HAP Trading LLC boosted its position in Nabors Industries by 479.2% during the third quarter. HAP Trading LLC now owns 44,361 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 56,061 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Nabors Industries by 79.9% during the third quarter. ClariVest Asset Management LLC now owns 36,700 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 16,300 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on NBR shares. Societe Generale started coverage on 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 raised Nabors Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $6.19 to $9.00 in a research report on Wednesday, November 8th. Citigroup reaffirmed a “buy” rating and issued a $8.00 price objective (down from $9.00) on shares of Nabors Industries in a research report on Wednesday, September 13th. BMO Capital Markets reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Nabors Industries in a research report on Wednesday, September 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $12.50 price objective on shares of Nabors Industries in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $11.30.
Nabors Industries Ltd. (NYSE NBR) traded up $0.01 during trading hours on Wednesday, reaching $5.60. The company had a trading volume of 10,468,899 shares, compared to its average volume of 8,574,013. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. Nabors Industries Ltd. has a 1-year low of $5.32 and a 1-year high of $18.40.
Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million for the quarter, compared to analyst estimates of $674.03 million. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.55) earnings per share. equities research analysts forecast that Nabors Industries Ltd. will post -1.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be issued 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 4.29%. Nabors Industries’s payout ratio is currently -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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