BNP Paribas Arbitrage SA lifted its stake in Nabors Industries Ltd. (NYSE:NBR) by 4.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 313,302 shares of the oil and gas company’s stock after buying an additional 13,145 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.11% of Nabors Industries worth $2,528,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NBR. Prudential Financial Inc. lifted its holdings in shares of Nabors Industries by 278.9% in the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after buying an additional 2,915,370 shares in the last quarter. Sirios Capital Management L P lifted its holdings in shares of Nabors Industries by 246.1% in the second quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock worth $32,844,000 after buying an additional 2,869,187 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Nabors Industries by 101.4% in the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock worth $37,751,000 after buying an additional 2,354,975 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Nabors Industries by 16.4% in the second quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock worth $133,828,000 after buying an additional 2,315,688 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after buying an additional 2,118,198 shares in the last quarter. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the stock. Seaport Global Securities upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Friday, August 18th. Guggenheim upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, August 15th. Credit Suisse Group set a $9.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Nomura set a $12.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Citigroup Inc. restated a “buy” rating and issued a $8.00 price target (down previously from $9.00) on shares of Nabors Industries in a research report on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $11.30.

Nabors Industries Ltd. (NBR) opened at $5.75 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41. Nabors Industries Ltd. has a 1 year low of $5.32 and a 1 year high of $18.40.

Nabors Industries (NYSE:NBR) last issued 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). Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business had revenue of $662.50 million during the quarter, compared to analyst estimates of $674.03 million. During the same quarter last year, the company posted ($0.55) EPS. Nabors Industries’s quarterly revenue was up 27.4% compared to the same quarter last year. equities analysts expect that Nabors Industries Ltd. will post -1.61 EPS for the current fiscal year.

The firm 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 $0.06 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 annualized dividend and a yield of 4.17%. Nabors Industries’s dividend payout ratio (DPR) is presently -8.96%.

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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.

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

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