Los Angeles Capital Management & Equity Research Inc. Acquires Shares of 889,065 Nabors Industries Ltd. (NBR)

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%.

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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.

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

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