Prudential Financial Inc. reduced its position in Nabors Industries Ltd. (NYSE:NBR) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,045,319 shares of the oil and gas company’s stock after selling 3,130 shares during the period. Prudential Financial Inc. owned approximately 0.37% of Nabors Industries worth $8,509,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Sirios Capital Management L P boosted its position in Nabors Industries by 246.1% in the 2nd quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock valued at $32,844,000 after buying an additional 2,869,187 shares during the last quarter. Winch Advisory Services LLC boosted its position in Nabors Industries by 35.1% in the 2nd quarter. Winch Advisory Services LLC now owns 149,845 shares of the oil and gas company’s stock valued at $1,220,000 after buying an additional 38,948 shares during the last quarter. Cadence Capital Management LLC boosted its position in Nabors Industries by 242.6% in the 2nd quarter. Cadence Capital Management LLC now owns 35,638 shares of the oil and gas company’s stock valued at $290,000 after buying an additional 25,236 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Nabors Industries in the 2nd quarter valued at about $7,324,000. Finally, Deprince Race & Zollo Inc. boosted its position in Nabors Industries by 4.5% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,799,399 shares of the oil and gas company’s stock valued at $22,787,000 after buying an additional 121,327 shares during the last quarter. 95.60% of the stock is owned by institutional investors.

Shares of Nabors Industries Ltd. (NYSE:NBR) opened at 7.23 on Thursday. The firm’s market cap is $2.07 billion. Nabors Industries Ltd. has a 52 week low of $6.18 and a 52 week high of $18.40. The firm has a 50 day moving average of $6.97 and a 200 day moving average of $9.65.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the 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 business had revenue of $630.50 million for the quarter, compared to analyst estimates of $589.79 million. During the same quarter last year, the firm posted ($0.35) earnings per share. Nabors Industries’s revenue was up 21.9% on a year-over-year basis. Equities analysts predict that Nabors Industries Ltd. will post ($1.50) earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, September 11th. This represents a $0.24 annualized dividend and a dividend yield of 3.32%. Nabors Industries’s dividend payout ratio (DPR) is currently -9.41%.

A number of equities analysts have weighed in on the stock. ValuEngine cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 27th. Evercore ISI reaffirmed an “outperform” rating and set a $18.00 price target on shares of Nabors Industries in a research report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $8.00 price target on shares of Nabors Industries in a research report on Wednesday, September 6th. Jefferies Group LLC set a $12.00 price target on shares of Nabors Industries and gave the stock a “hold” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.38.

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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.

Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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