M&T Bank Corp increased its position in Nabors Industries Ltd. (NYSE:NBR) by 6.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,320 shares of the oil and gas company’s stock after acquiring an additional 925 shares during the quarter. M&T Bank Corp’s holdings in Nabors Industries were worth $133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capstone Asset Management Co. increased its holdings in Nabors Industries by 0.9% in the 2nd quarter. Capstone Asset Management Co. now owns 23,571 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 220 shares during the last quarter. Wright Investors Service Inc. increased its holdings in Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 265 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in Nabors Industries by 3.3% in the 2nd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 435 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Nabors Industries by 2.0% in the 1st quarter. Teacher Retirement System of Texas now owns 22,836 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 446 shares during the last quarter. Finally, Utah Retirement Systems increased its holdings in Nabors Industries by 1.0% in the 2nd quarter. Utah Retirement Systems now owns 50,740 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 500 shares during the last quarter. 95.55% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the company. Evercore ISI reissued an “outperform” rating and issued a $18.00 price objective on shares of Nabors Industries in a report on Tuesday, June 20th. BMO Capital Markets reissued a “hold” rating and issued a $8.00 price objective on shares of Nabors Industries in a report on Wednesday, September 6th. Jefferies Group LLC reissued a “neutral” rating on shares of Nabors Industries in a report on Thursday, September 7th. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Finally, UBS AG reissued a “buy” rating and issued a $11.00 price objective (down previously from $17.00) on shares of Nabors Industries in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $12.05.

Nabors Industries Ltd. (NYSE:NBR) opened at 7.32 on Wednesday. The stock’s market cap is $2.09 billion. The stock’s 50 day moving average price is $7.41 and its 200 day moving average price is $8.68. Nabors Industries Ltd. has a one year low of $6.18 and a one year high of $18.40.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The business had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $589.79 million. During the same quarter in the prior year, the business posted ($0.35) EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts predict that Nabors Industries Ltd. will post ($1.49) earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Monday, September 11th. Nabors Industries’s dividend payout ratio is currently -9.41%.

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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.

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

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