Nabors Industries Ltd. (NBR) Stake Maintained by NJ State Employees Deferred Compensation Plan
NJ State Employees Deferred Compensation Plan continued to hold its position in shares of Nabors Industries Ltd. (NYSE:NBR) during the second quarter, Holdings Channel reports. The institutional investor owned 20,000 shares of the oil and gas company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Nabors Industries were worth $163,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in NBR. Bollard Group LLC boosted its position in shares of 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 valued at $2,541,000 after buying an additional 3,816 shares in the last quarter. TFS Capital LLC bought a new position in shares of Nabors Industries during the first quarter valued at about $647,000. KBC Group NV boosted its position in shares of 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 valued at $5,540,000 after buying an additional 56,564 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of 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 valued at $9,770,000 after buying an additional 316,556 shares in the last quarter. Finally, Paloma Partners Management Co boosted its position in shares of 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 valued at $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. (NYSE NBR) opened at 6.81 on Friday. The company’s 50-day moving average is $7.68 and its 200-day moving average is $11.19. Nabors Industries Ltd. has a 12 month low of $6.74 and a 12 month high of $18.40. The company’s market cap is $1.95 billion.
Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by $0.03. The company 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 earned ($0.35) earnings per share. On average, equities research analysts expect that Nabors Industries Ltd. will post ($1.45) 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 paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Monday, September 11th. Nabors Industries’s dividend payout ratio (DPR) is presently -9.41%.
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Several equities analysts recently issued reports on NBR shares. Deutsche Bank AG reiterated a “buy” rating and set a $13.00 price target (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Citigroup Inc. reissued a “buy” rating on shares of Nabors Industries in a research note on Wednesday, May 10th. Wells Fargo & Company lowered shares of Nabors Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, July 7th. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Nabors Industries from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the stock from $17.50 to $18.00 in a research note on Friday, April 28th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.18.
In related news, CFO William J. Restrepo bought 22,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $8.25 per share, for a total transaction of $181,500.00. Following the purchase, the chief financial officer now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is owned by company insiders.
About Nabors Industries
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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