Tortoise Capital Advisors L.L.C. Has $909,000 Stake in Nabors Industries Ltd. (NBR)
Tortoise Capital Advisors L.L.C. increased its stake in Nabors Industries Ltd. (NYSE:NBR) by 82.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 111,723 shares of the oil and gas company’s stock after buying an additional 50,353 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in Nabors Industries were worth $909,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Wright Investors Service Inc. boosted its stake in shares of Nabors Industries by 2.2% in the second quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 265 shares during the last quarter. Invictus RG bought a new stake in shares of Nabors Industries during the first quarter valued at $109,000. Carlton Hofferkamp & Jenks Wealth Management LLC boosted its stake in shares of Nabors Industries by 3.3% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 435 shares during the last quarter. Coconut Grove Bank boosted its stake in shares of Nabors Industries by 47.1% in the first quarter. Coconut Grove Bank now owns 10,960 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 3,510 shares during the last quarter. Finally, Aviance Capital Management LLC bought a new stake in shares of Nabors Industries during the first quarter valued at $143,000. 98.65% of the stock is currently owned by institutional investors.
Nabors Industries Ltd. (NYSE NBR) opened at 7.05 on Tuesday. Nabors Industries Ltd. has a 52 week low of $6.93 and a 52 week high of $18.40. The company’s market cap is $1.97 billion. The company has a 50-day moving average price of $7.87 and a 200 day moving average price of $11.58.
Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.03. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The company had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. During the same quarter last year, the business posted ($0.35) EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities research analysts forecast that Nabors Industries Ltd. will post ($1.42) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.40%. Nabors Industries’s dividend payout ratio (DPR) is presently -9.41%.
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Several equities research analysts have weighed in on the company. Evercore ISI reissued an “outperform” rating and set a $18.00 price objective on shares of Nabors Industries in a research note on Tuesday, June 20th. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday, May 27th. Jefferies Group LLC set a $12.00 price objective on Nabors Industries and gave the stock a “hold” rating in a research note on Tuesday, June 6th. UBS AG reissued a “buy” rating and set a $11.00 price objective (down from $17.00) on shares of Nabors Industries in a research note on Thursday, July 6th. Finally, BMO Capital Markets reissued a “hold” rating and set a $8.00 price objective (down from $13.00) on shares of Nabors Industries in a research note on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.54.
In related news, CFO William J. Restrepo bought 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $8.25 per share, for a total transaction of $181,500.00. Following the acquisition, the chief financial officer now owns 959,694 shares of the company’s stock, valued at $7,917,475.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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