Nabors Industries Ltd. (NBR) Shares Bought by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC raised its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 41.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,531,263 shares of the oil and gas company’s stock after buying an additional 446,543 shares during the period. Wedge Capital Management L L P NC’s holdings in Nabors Industries were worth $12,464,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Bollard Group LLC increased its stake in Nabors Industries by 1.2% in the second quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock worth $2,541,000 after buying an additional 3,816 shares in the last quarter. TFS Capital LLC acquired a new stake in Nabors Industries during the first quarter worth approximately $647,000. KBC Group NV increased its stake in Nabors Industries by 15.4% in the first quarter. KBC Group NV now owns 423,891 shares of the oil and gas company’s stock worth $5,540,000 after buying an additional 56,564 shares in the last quarter. Wells Fargo & Company MN increased its stake in Nabors Industries by 73.5% in the first quarter. Wells Fargo & Company MN now owns 747,410 shares of the oil and gas company’s stock worth $9,770,000 after buying an additional 316,556 shares in the last quarter. Finally, Paloma Partners Management Co increased its stake in Nabors Industries by 117.2% in the first quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock worth $901,000 after buying an additional 37,175 shares in the last quarter. Institutional investors own 98.65% of the company’s stock.
Nabors Industries Ltd. (NBR) opened at 6.64 on Tuesday. Nabors Industries Ltd. has a 52-week low of $6.47 and a 52-week high of $18.40. The firm’s market capitalization is $1.90 billion. The stock’s 50 day moving average price is $7.62 and its 200 day moving average price is $10.96.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.03. The firm had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) earnings per share. Analysts expect that Nabors Industries Ltd. will post ($1.49) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a yield of 3.61%. Nabors Industries’s dividend payout ratio (DPR) is -9.41%.
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A number of equities research analysts have commented on NBR shares. Deutsche Bank AG restated a “buy” rating and issued a $13.00 target price (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Citigroup Inc. restated a “buy” rating on shares of Nabors Industries in a research report on Wednesday, May 10th. Wells Fargo & Company downgraded Nabors Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, July 7th. Zacks Investment Research downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) downgraded Nabors Industries from a “conviction-buy” rating to a “buy” rating and lifted their target price for the company from $17.50 to $18.00 in a research report on Friday, April 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Nabors Industries has an average rating of “Hold” and a consensus target price of $14.18.
In other news, CFO William J. Restrepo purchased 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average cost of $8.25 per share, for a total transaction of $181,500.00. Following the completion of the purchase, the chief financial officer now owns 959,694 shares of the company’s stock, valued at $7,917,475.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by company insiders.
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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