Capital Innovations LLC Lowers Stake in Nabors Industries Ltd. (NBR)

Capital Innovations LLC reduced its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,285 shares of the oil and gas company’s stock after selling 5,310 shares during the period. Capital Innovations LLC’s holdings in Nabors Industries were worth $377,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Invictus RG purchased a new position in shares of Nabors Industries during the first quarter worth $109,000. Aviance Capital Management LLC purchased a new position in shares of Nabors Industries during the first quarter worth $143,000. Point72 Asia Hong Kong Ltd raised its holdings in shares of Nabors Industries by 92.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock worth $147,000 after purchasing an additional 5,401 shares during the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of Nabors Industries by 714.0% during the second quarter. Harbour Capital Advisors LLC now owns 11,396 shares of the oil and gas company’s stock worth $1,400,000 after purchasing an additional 9,996 shares during the last quarter. Finally, Wright Investors Service Inc. raised its holdings in shares of Nabors Industries by 2.2% during the second quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.

Shares of Nabors Industries Ltd. (NYSE:NBR) traded up 1.30% during mid-day trading on Tuesday, hitting $7.78. 2,465,809 shares of the stock traded hands. Nabors Industries Ltd. has a 12-month low of $6.18 and a 12-month high of $18.40. The firm’s 50 day moving average price is $7.31 and its 200 day moving average price is $8.83. The firm’s market cap is $2.22 billion.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). The company had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.35) EPS. On average, equities research analysts predict that Nabors Industries Ltd. will post ($1.50) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were issued a $0.06 dividend. The ex-dividend date was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.13%. Nabors Industries’s dividend payout ratio is presently -9.41%.

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Several brokerages recently issued reports on NBR. Deutsche Bank AG began coverage on shares of Nabors Industries in a report on Tuesday. They set a “hold” rating and a $9.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $12.00 target price (down previously from $14.00) on shares of Nabors Industries in a report on Friday. Citigroup Inc. set a $10.00 target price on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 5th. SunTrust Banks, Inc. reissued a “buy” rating and set a $9.00 target price (down previously from $20.00) on shares of Nabors Industries in a report on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $12.05.

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.

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

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