PVG Asset Management Corp purchased a new position in shares of Nabors Industries Ltd. (NYSE:NBR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 503,395 shares of the oil and gas company’s stock, valued at approximately $3,438,000. Nabors Industries accounts for approximately 1.6% of PVG Asset Management Corp’s portfolio, making the stock its 24th biggest holding. PVG Asset Management Corp owned approximately 0.16% of Nabors Industries at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of NBR. BlackRock Inc. lifted its holdings in Nabors Industries by 15.3% during the 4th quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock worth $190,080,000 after purchasing an additional 3,700,602 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Nabors Industries by 11.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after purchasing an additional 2,243,068 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Nabors Industries by 1.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,252,747 shares of the oil and gas company’s stock worth $131,160,000 after purchasing an additional 274,089 shares in the last quarter. Thunderbird Partners LLP purchased a new stake in Nabors Industries during the 4th quarter worth about $37,219,000. Finally, Victory Capital Management Inc. lifted its holdings in Nabors Industries by 1.0% during the 4th quarter. Victory Capital Management Inc. now owns 4,723,162 shares of the oil and gas company’s stock worth $32,259,000 after purchasing an additional 45,208 shares in the last quarter. Institutional investors own 87.22% of the company’s stock.
A number of analysts recently issued reports on NBR shares. Cowen set a $9.00 price objective on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research cut Nabors Industries from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Royal Bank of Canada set a $8.00 price objective on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, December 21st. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Finally, JPMorgan Chase & Co. cut Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.89.
Nabors Industries stock traded down $0.11 during trading hours on Monday, hitting $6.89. The company’s stock had a trading volume of 324,734 shares, compared to its average volume of 9,450,725. Nabors Industries Ltd. has a 1 year low of $5.32 and a 1 year high of $14.28. The stock has a market cap of $2,208.77, a PE ratio of -3.68 and a beta of 1.68. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 1.37.
Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $708.28 million during the quarter, compared to analysts’ expectations of $706.35 million. Nabors Industries had a negative net margin of 21.32% and a negative return on equity of 15.56%. The business’s revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. equities analysts expect that Nabors Industries Ltd. will post -0.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Tuesday, March 13th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.48%. Nabors Industries’s dividend payout ratio is -12.63%.
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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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