Nomura Asset Management Co. Ltd. raised its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 63.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,500 shares of the oil and gas company’s stock after buying an additional 6,800 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Nabors Industries were worth $60,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new position in Nabors Industries in the 4th quarter valued at approximately $25,000. Versant Capital Management Inc raised its holdings in Nabors Industries by 921.4% in the 1st quarter. Versant Capital Management Inc now owns 7,579 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 6,837 shares during the last quarter. Hellman Jordan Management Co. Inc. MA bought a new position in Nabors Industries in the 4th quarter valued at approximately $28,000. M&T Bank Corp bought a new position in Nabors Industries in the 4th quarter valued at approximately $29,000. Finally, Traynor Capital Management Inc. bought a new position in Nabors Industries in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Shares of NBR stock traded down $0.05 during trading hours on Wednesday, hitting $2.32. 117,844 shares of the company were exchanged, compared to its average volume of 12,185,081. The company has a market cap of $842.52 million, a price-to-earnings ratio of -1.85 and a beta of 2.43. Nabors Industries Ltd. has a fifty-two week low of $1.81 and a fifty-two week high of $7.32. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.39.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Nabors Industries had a negative return on equity of 14.79% and a negative net margin of 19.68%. The company had revenue of $809.31 million for the quarter, compared to analyst estimates of $774.35 million. During the same period last year, the business earned ($0.46) EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that Nabors Industries Ltd. will post -0.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Monday, June 10th. Nabors Industries’s payout ratio is currently -3.17%.

A number of research analysts recently issued reports on NBR shares. Argus lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Societe Generale set a $4.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research upgraded shares of Nabors Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Goldman Sachs Group initiated coverage on shares of Nabors Industries in a report on Sunday, March 10th. They set a “neutral” rating and a $4.00 price target for the company. Finally, Citigroup lowered their price target on shares of Nabors Industries from $8.00 to $6.70 and set a “buy” rating for the company in a report on Tuesday, March 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.13.

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Nabors Industries Profile

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. Drilling, Canada Drilling, International Drilling, 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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