45,379 Shares in Nabors Industries Ltd. (NBR) Acquired by Nomura Holdings Inc.

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.

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

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%.

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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.

Want to see what other hedge funds are holding NBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nabors Industries Ltd. (NYSE:NBR).

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