LSV Asset Management held its stake in Nabors Industries Ltd. (NYSE:NBR) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 40,800 shares of the oil and gas company’s stock at the close of the 2nd quarter. LSV Asset Management’s holdings in Nabors Industries were worth $332,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of Nabors Industries by 7,474.6% in the 1st quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after acquiring an additional 24,486,309 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Nabors Industries by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 22,565,265 shares of the oil and gas company’s stock valued at $294,929,000 after acquiring an additional 1,035,970 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Nabors Industries by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 19,723,712 shares of the oil and gas company’s stock valued at $257,786,000 after acquiring an additional 1,053,328 shares in the last quarter. Morgan Stanley lifted its position in shares of Nabors Industries by 0.6% in the 1st quarter. Morgan Stanley now owns 18,787,378 shares of the oil and gas company’s stock valued at $245,552,000 after acquiring an additional 114,423 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Nabors Industries by 16.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock valued at $133,828,000 after acquiring an additional 2,315,688 shares in the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.

Nabors Industries Ltd. (NBR) opened at 8.29 on Tuesday. Nabors Industries Ltd. has a 52 week low of $6.18 and a 52 week high of $18.40. The firm’s market cap is $2.37 billion. The stock’s 50 day moving average is $6.91 and its 200 day moving average is $9.39.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). The business had revenue of $630.50 million during the quarter, compared to the consensus estimate of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) EPS. Equities research analysts expect that Nabors Industries Ltd. will post ($1.50) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, September 11th. Nabors Industries’s dividend payout ratio is presently -9.41%.

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NBR has been the subject of several research analyst reports. Royal Bank Of Canada restated a “buy” rating on shares of Nabors Industries in a research report on Tuesday, June 20th. UBS AG restated a “buy” rating and issued a $11.00 price target (down previously from $17.00) on shares of Nabors Industries in a research report on Thursday, July 6th. Deutsche Bank AG restated a “buy” rating and issued a $13.00 price target (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Nomura set a $12.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Credit Suisse Group set a $9.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, August 10th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. Nabors Industries has a consensus rating of “Buy” and an average target price of $13.27.

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

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