Waterstone Capital Management L.P. Acquires 17,500 Shares of Nabors Industries Ltd. (NBR)

Waterstone Capital Management L.P. increased its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,980 shares of the oil and gas company’s stock after buying an additional 17,500 shares during the period. Nabors Industries accounts for about 2.8% of Waterstone Capital Management L.P.’s investment portfolio, making the stock its 9th biggest holding. Waterstone Capital Management L.P. owned approximately 0.08% of Nabors Industries worth $1,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NBR. NumerixS Investment Technologies Inc bought a new stake in shares of Nabors Industries during the second quarter worth approximately $106,000. Signition LP acquired a new position in Nabors Industries during the second quarter valued at approximately $133,000. FNY Investment Advisers LLC grew its holdings in Nabors Industries by 19,946.4% during the third quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock valued at $135,000 after purchasing an additional 21,941 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Nabors Industries during the second quarter valued at approximately $139,000. Finally, Blair William & Co. IL acquired a new position in Nabors Industries during the third quarter valued at approximately $175,000. 89.03% of the stock is owned by institutional investors and hedge funds.

NBR has been the subject of a number of analyst reports. Guggenheim restated a “buy” rating and set a $11.00 price objective on shares of Nabors Industries in a report on Friday, October 12th. Jefferies Financial Group restated a “buy” rating and set a $8.00 price objective on shares of Nabors Industries in a report on Tuesday, November 6th. Bank of America initiated coverage on shares of Nabors Industries in a report on Wednesday, October 17th. They set a “buy” rating for the company. Wolfe Research initiated coverage on shares of Nabors Industries in a report on Wednesday, October 10th. They set an “outperform” rating for the company. Finally, Piper Jaffray Companies set a $7.00 price objective on shares of Nabors Industries and gave the company a “hold” rating in a report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $8.96.

In related news, Director John P. Kotts purchased 100,000 shares of Nabors Industries stock in a transaction dated Tuesday, November 6th. The stock was bought at an average price of $5.61 per share, for a total transaction of $561,000.00. Following the completion of the acquisition, the director now directly owns 301,949 shares of the company’s stock, valued at $1,693,933.89. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Yearwood purchased 197,000 shares of Nabors Industries stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $5.14 per share, with a total value of $1,012,580.00. The disclosure for this purchase can be found here. 4.15% of the stock is owned by corporate insiders.

Shares of Nabors Industries stock traded up $0.03 on Monday, hitting $3.26. The company had a trading volume of 95,772 shares, compared to its average volume of 16,363,288. The stock has a market capitalization of $1.16 billion, a PE ratio of -2.02 and a beta of 1.67. Nabors Industries Ltd. has a twelve month low of $3.16 and a twelve month high of $8.86. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 1.26.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.11). The company had revenue of $779.43 million during the quarter, compared to analyst estimates of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.42) EPS. Equities analysts anticipate that Nabors Industries Ltd. will post -1.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 7.36%. The ex-dividend date is Wednesday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.

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Nabors Industries Profile

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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

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