Rhumbline Advisers increased its stake in Nabors Industries Ltd. (NYSE:NBR) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 573,187 shares of the oil and gas company’s stock after purchasing an additional 70,165 shares during the quarter. Rhumbline Advisers owned about 0.18% of Nabors Industries worth $3,915,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of NBR. Prudential Financial Inc. grew its position in Nabors Industries by 278.9% during the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after buying an additional 2,915,370 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Nabors Industries by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after buying an additional 2,243,068 shares in the last quarter. Point72 Asset Management L.P. grew its position in Nabors Industries by 47.5% during the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock worth $32,637,000 after buying an additional 1,302,284 shares in the last quarter. JPMorgan Chase & Co. grew its position in Nabors Industries by 52.4% during the third quarter. JPMorgan Chase & Co. now owns 3,619,076 shares of the oil and gas company’s stock worth $29,423,000 after buying an additional 1,245,100 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Nabors Industries by 21.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,586,131 shares of the oil and gas company’s stock worth $17,663,000 after buying an additional 459,518 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.
Shares of Nabors Industries Ltd. (NBR) opened at $7.12 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.39 and a current ratio of 1.57. Nabors Industries Ltd. has a 52 week low of $5.32 and a 52 week high of $14.28. The stock has a market capitalization of $2,260.00, a PE ratio of -5.24 and a beta of 1.68.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 13th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Monday, March 12th. Nabors Industries’s dividend payout ratio (DPR) is presently -17.65%.
Several research firms recently commented on NBR. Seaport Global Securities restated a “buy” rating and set a $13.00 target price on shares of Nabors Industries in a research report on Thursday, January 18th. JPMorgan Chase & Co. cut Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Wednesday, January 17th. Zacks Investment Research cut Nabors Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Cowen set a $9.00 target price on Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.89.
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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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