Raymond James Financial Services Advisors Inc. grew its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 41.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 72,155 shares of the oil and gas company’s stock after acquiring an additional 21,085 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Nabors Industries were worth $582,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in NBR. Frontier Wealth Management LLC raised its holdings in shares of Nabors Industries by 11.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after buying an additional 1,284 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Nabors Industries during the 3rd quarter worth $121,000. M&T Bank Corp raised its holdings in shares of Nabors Industries by 6.0% during the 2nd quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after buying an additional 925 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Nabors Industries by 162.8% during the 2nd quarter. D.A. Davidson & CO. now owns 18,700 shares of the oil and gas company’s stock worth $152,000 after buying an additional 11,585 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Nabors Industries during the 2nd quarter worth $166,000. Hedge funds and other institutional investors own 97.71% of the company’s stock.
A number of research firms have recently commented on NBR. BMO Capital Markets reissued a “hold” rating and set a $8.00 price target on shares of Nabors Industries in a report on Wednesday, September 6th. Jefferies Group reissued a “neutral” rating on shares of Nabors Industries in a report on Thursday, September 7th. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Citigroup reaffirmed a “buy” rating and issued a $8.00 target price (down previously from $9.00) on shares of Nabors Industries in a report on Wednesday, September 13th. Finally, UBS lowered their target price on Nabors Industries from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $11.30.
Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The company had revenue of $662.50 million during the quarter, compared to the consensus estimate of $674.03 million. During the same quarter last year, the firm posted ($0.55) EPS. The company’s quarterly revenue was up 27.4% on a year-over-year basis. equities research analysts expect that Nabors Industries Ltd. will post -1.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a $0.06 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.86%. Nabors Industries’s dividend payout ratio (DPR) is presently -8.96%.
About Nabors Industries
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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