Texas Permanent School Fund trimmed its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,794 shares of the oil and gas company’s stock after selling 22,663 shares during the period. Texas Permanent School Fund’s holdings in Nabors Industries were worth $1,262,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NBR. NumerixS Investment Technologies Inc acquired a new stake in shares of Nabors Industries during the second quarter worth $106,000. Signition LP acquired a new stake in shares of Nabors Industries during the second quarter worth $133,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Nabors Industries during the second quarter worth $139,000. Vanguard Capital Wealth Advisors raised its holdings in shares of Nabors Industries by 147.1% during the third quarter. Vanguard Capital Wealth Advisors now owns 29,900 shares of the oil and gas company’s stock worth $184,000 after acquiring an additional 17,800 shares during the period. Finally, Oakbrook Investments LLC acquired a new stake in shares of Nabors Industries during the second quarter worth $191,000. Institutional investors and hedge funds own 96.82% of the company’s stock.

In other news, Director John Yearwood acquired 197,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $5.14 per share, with a total value of $1,012,580.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John P. Kotts acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average cost of $5.61 per share, with a total value of $561,000.00. Following the transaction, the director now owns 301,949 shares in the company, valued at $1,693,933.89. The disclosure for this purchase can be found here. Company insiders own 4.15% of the company’s stock.

A number of equities research analysts recently commented on the stock. BMO Capital Markets dropped their price objective on shares of Nabors Industries from $7.50 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $8.00 target price on shares of Nabors Industries in a research report on Tuesday. Piper Jaffray Companies set a $9.00 target price on shares of Nabors Industries and gave the company a “hold” rating in a research report on Tuesday, August 7th. Seaport Global Securities reaffirmed a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a research report on Thursday, August 2nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $13.00 target price on shares of Nabors Industries in a research report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. Nabors Industries currently has a consensus rating of “Buy” and an average price target of $8.96.

Nabors Industries stock opened at $5.24 on Friday. Nabors Industries Ltd. has a 1-year low of $4.49 and a 1-year high of $8.86. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.84.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). The business had revenue of $779.43 million during the quarter, compared to the consensus estimate of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the business posted ($0.42) EPS. On average, research analysts anticipate that Nabors Industries Ltd. will post -1.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Wednesday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.

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About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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

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