Point72 Asset Management L.P. Has $32.64 Million Stake in Nabors Industries Ltd. (NBR)

Point72 Asset Management L.P. grew its position in Nabors Industries Ltd. (NYSE:NBR) by 47.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,044,184 shares of the oil and gas company’s stock after purchasing an additional 1,302,284 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.41% of Nabors Industries worth $32,637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NBR. Prudential Financial Inc. raised its holdings in shares of Nabors Industries by 278.9% in the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after purchasing an additional 2,915,370 shares in the last quarter. Sirios Capital Management L P raised its holdings in shares of Nabors Industries by 246.1% in the 2nd quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock valued at $32,844,000 after purchasing an additional 2,869,187 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Nabors Industries by 101.4% in the 3rd quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after purchasing an additional 2,354,975 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Nabors Industries by 16.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock valued at $133,828,000 after purchasing an additional 2,315,688 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Nabors Industries by 11.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after purchasing an additional 2,243,068 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

Shares of Nabors Industries Ltd. (NYSE NBR) traded down $0.01 during trading on Wednesday, reaching $6.01. 11,409,800 shares of the company’s stock traded hands, compared to its average volume of 8,624,740. Nabors Industries Ltd. has a 52 week low of $5.32 and a 52 week high of $18.40. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. During the same period in the previous year, the business posted ($0.55) earnings per share. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. research analysts forecast that Nabors Industries Ltd. will post -1.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.99%. The ex-dividend date is Tuesday, December 12th. Nabors Industries’s payout ratio is currently -8.96%.

A number of equities research analysts have recently weighed in on NBR shares. Zacks Investment Research upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Deutsche Bank initiated coverage on shares of Nabors Industries in a report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price objective on the stock. ValuEngine downgraded shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Guggenheim raised shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday, August 15th. Finally, Societe Generale initiated coverage on shares of Nabors Industries in a research report on Thursday, August 31st. They issued a “hold” rating and a $7.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $11.07.

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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.

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

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