Raymond James Financial Services Advisors Inc. boosted its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 222.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 175,623 shares of the oil and gas company’s stock after purchasing an additional 121,152 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Nabors Industries were worth $1,126,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. State Treasurer State of Michigan lifted its holdings in Nabors Industries by 7.0% during the 1st quarter. State Treasurer State of Michigan now owns 114,963 shares of the oil and gas company’s stock valued at $804,000 after purchasing an additional 7,500 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Nabors Industries by 8.8% in the first quarter. CIBC World Markets Inc. now owns 96,390 shares of the oil and gas company’s stock worth $674,000 after acquiring an additional 7,780 shares during the last quarter. Aperio Group LLC raised its stake in shares of Nabors Industries by 2.3% in the first quarter. Aperio Group LLC now owns 353,550 shares of the oil and gas company’s stock worth $2,471,000 after acquiring an additional 7,818 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Nabors Industries by 1.3% in the first quarter. Legal & General Group Plc now owns 668,484 shares of the oil and gas company’s stock worth $4,673,000 after acquiring an additional 8,486 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Nabors Industries by 1.8% in the first quarter. Swiss National Bank now owns 551,855 shares of the oil and gas company’s stock worth $3,857,000 after acquiring an additional 9,800 shares during the last quarter. 91.33% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the stock. Piper Jaffray Companies set a $9.00 target price on shares of Nabors Industries and gave the stock a “hold” rating in a research note on Tuesday, August 7th. Guggenheim reaffirmed a “buy” rating and issued a $13.00 target price on shares of Nabors Industries in a research note on Wednesday, August 8th. Societe Generale raised shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday, August 3rd. Seaport Global Securities reaffirmed a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a research note on Thursday, August 2nd. Finally, ValuEngine raised shares of Nabors Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $9.18.

Shares of NYSE:NBR opened at $6.46 on Friday. Nabors Industries Ltd. has a one year low of $5.32 and a one year high of $8.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.84 and a current ratio of 2.04.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.15). Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The business had revenue of $761.92 million for the quarter, compared to analyst estimates of $755.76 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. research analysts forecast that Nabors Industries Ltd. will post -0.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Monday, September 10th. Nabors Industries’s dividend payout ratio is -14.72%.

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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