Nomura Holdings Inc. bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) during the first quarter, Holdings Channel reports. The firm bought 45,379 shares of the oil and gas company’s stock, valued at approximately $594,000.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Nabors Industries by 7,474.6% in the first quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after buying an additional 24,486,309 shares during the period. Vanguard Group Inc. raised its position in Nabors Industries by 4.8% in the first quarter. Vanguard Group Inc. now owns 22,565,265 shares of the oil and gas company’s stock valued at $294,929,000 after buying an additional 1,035,970 shares during the period. Dimensional Fund Advisors LP raised its position in Nabors Industries by 5.6% in the first 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 buying an additional 1,053,328 shares during the period. Morgan Stanley raised its position in Nabors Industries by 0.6% in the first quarter. Morgan Stanley now owns 18,787,378 shares of the oil and gas company’s stock valued at $245,552,000 after buying an additional 114,423 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Nabors Industries by 30.4% in the first quarter. Bank of New York Mellon Corp now owns 14,125,222 shares of the oil and gas company’s stock valued at $184,617,000 after buying an additional 3,296,758 shares during the period. Institutional investors own 98.65% of the company’s stock.
Nabors Industries Ltd. (NYSE NBR) traded down 7.16% during midday trading on Wednesday, reaching $7.39. The company had a trading volume of 11,323,916 shares. The stock’s 50 day moving average price is $9.22 and its 200-day moving average price is $13.47. The firm’s market capitalization is $2.11 billion. Nabors Industries Ltd. has a one year low of $7.16 and a one year high of $18.40.
Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, April 26th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.16. Nabors Industries had a negative return on equity of 11.57% and a negative net margin of 36.49%. The business had revenue of $563 million for the quarter, compared to analyst estimates of $569.96 million. During the same quarter in the previous year, the company earned ($0.29) EPS. The business’s revenue for the quarter was up 30.7% on a year-over-year basis. On average, equities research analysts anticipate that Nabors Industries Ltd. will post ($1.33) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.02%. Nabors Industries’s payout ratio is presently -8.76%.
NBR has been the topic of several research analyst reports. BMO Capital Markets set a $13.00 price target on Nabors Industries and gave the company a “hold” rating in a research report on Saturday, May 6th. Credit Suisse Group set a $18.00 price target on Nabors Industries and gave the company a “buy” rating in a research report on Sunday, April 30th. Morgan Stanley downgraded Nabors Industries from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $19.00 to $10.00 in a research report on Wednesday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $13.00 price target (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $15.00 price target on shares of Nabors Industries in a research report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the stock. Nabors Industries presently has a consensus rating of “Buy” and a consensus price target of $15.38.
In other Nabors Industries news, CFO William J. Restrepo bought 22,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $8.25 per share, for a total transaction of $181,500.00. Following the transaction, the chief financial officer now directly owns 959,694 shares in the company, valued at approximately $7,917,475.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company’s stock.
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.
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