Nabors Industries Ltd. (NBR) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. boosted its stake in Nabors Industries Ltd. (NYSE:NBR) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,284,448 shares of the company’s stock after buying an additional 582,523 shares during the period. Vanguard Group Inc. owned about 7.16% of Nabors Industries worth $203,858,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in NBR. Commonwealth Equity Services Inc raised its stake in Nabors Industries by 10.7% in the first quarter. Commonwealth Equity Services Inc now owns 34,972 shares of the company’s stock worth $322,000 after buying an additional 3,371 shares during the last quarter. Aperio Group LLC raised its stake in Nabors Industries by 34.6% in the first quarter. Aperio Group LLC now owns 98,554 shares of the company’s stock worth $907,000 after buying an additional 25,339 shares during the last quarter. Virginia Retirement System bought a new stake in Nabors Industries during the first quarter worth about $429,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Nabors Industries during the first quarter worth about $823,000. Finally, BlackRock Inc. raised its stake in Nabors Industries by 15.4% in the first quarter. BlackRock Inc. now owns 138,393 shares of the company’s stock worth $1,273,000 after buying an additional 18,486 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.
Nabors Industries Ltd. (NYSE:NBR) opened at 12.87 on Monday. The firm’s market cap is $3.65 billion. Nabors Industries Ltd. has a 1-year low of $4.93 and a 1-year high of $13.32. The company’s 50 day moving average is $10.92 and its 200-day moving average is $9.86.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.19. The business earned $571.60 million during the quarter, compared to analyst estimates of $497.83 million. Nabors Industries had a negative net margin of 39.78% and a negative return on equity of 6.31%. The firm’s quarterly revenue was down 40.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) EPS. On average, analysts predict that Nabors Industries Ltd. will post ($1.21) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Tuesday, September 13th were issued a $0.06 dividend. The ex-dividend date was Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a yield of 1.86%. Nabors Industries’s dividend payout ratio (DPR) is presently -6.56%.
NBR has been the topic of a number of recent research reports. Citigroup Inc. upped their target price on Nabors Industries from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded Nabors Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Friday, August 19th. Stephens upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 12th. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating in a report on Friday, July 8th. Finally, Capital One Financial Corp. upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a report on Monday, September 19th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Nabors Industries presently has an average rating of “Buy” and an average target price of $11.54.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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