Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Nabors Industries Ltd. (NYSE:NBR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 889,065 shares of the oil and gas company’s stock, valued at approximately $7,237,000. Los Angeles Capital Management & Equity Research Inc. owned 0.31% of Nabors Industries as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Bollard Group LLC grew its stake in 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 acquiring an additional 3,816 shares during the period. TFS Capital LLC acquired a new stake in Nabors Industries in the first quarter valued at approximately $647,000. KBC Group NV grew its stake in 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 acquiring an additional 56,564 shares during the period. Wells Fargo & Company MN grew its stake in 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 acquiring an additional 316,556 shares during the period. Finally, Paloma Partners Management Co grew its stake in 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 acquiring an additional 37,175 shares during the period. 95.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Nabors Industries Ltd. (NYSE:NBR) opened at 6.52 on Monday. Nabors Industries Ltd. has a one year low of $6.18 and a one year high of $18.40. The company’s market capitalization is $1.86 billion. The company’s 50-day moving average price is $7.02 and its 200-day moving average price is $9.85.
Nabors Industries (NYSE:NBR) last released its quarterly 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. The firm had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. Nabors Industries’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) earnings per share. On average, equities research analysts predict that Nabors Industries Ltd. will post ($1.50) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th will be issued 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 3.68%. Nabors Industries’s payout ratio is -9.41%.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://sportsperspectives.com/2017/09/11/los-angeles-capital-management-equity-research-inc-acquires-shares-of-889065-nabors-industries-ltd-nbr.html.
A number of brokerages have commented on NBR. Seaport Global Securities reissued a “neutral” rating on shares of Nabors Industries in a research note on Friday, August 4th. Cowen and Company reduced their price objective on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Credit Suisse Group set a $9.00 price objective on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Jefferies Group LLC set a $8.00 price objective on Nabors Industries and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $12.50 price objective on shares of Nabors Industries in a research note on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $13.42.
Nabors Industries 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.
Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.