Nabors Industries Ltd. (NBR) Shares Sold by E&G Advisors LP

E&G Advisors LP trimmed its holdings in Nabors Industries Ltd. (NYSE:NBR) by 23.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 42,800 shares of the oil and gas company’s stock after selling 13,000 shares during the quarter. E&G Advisors LP’s holdings in Nabors Industries were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its holdings in shares of Nabors Industries by 37.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 122,200 shares of the oil and gas company’s stock valued at $244,000 after buying an additional 33,100 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Nabors Industries by 303.7% during the 4th quarter. State of Alaska Department of Revenue now owns 145,491 shares of the oil and gas company’s stock worth $290,000 after purchasing an additional 109,452 shares during the last quarter. Cerebellum GP LLC raised its holdings in Nabors Industries by 193.9% during the 4th quarter. Cerebellum GP LLC now owns 91,974 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 60,681 shares during the last quarter. Legal & General Group Plc raised its holdings in Nabors Industries by 1.8% during the 3rd quarter. Legal & General Group Plc now owns 692,229 shares of the oil and gas company’s stock worth $4,264,000 after purchasing an additional 12,145 shares during the last quarter. Finally, Vanguard Group Inc raised its holdings in Nabors Industries by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 31,147,447 shares of the oil and gas company’s stock worth $191,869,000 after purchasing an additional 246,670 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Shares of NBR stock opened at $2.88 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.82. The stock has a market capitalization of $991.09 million, a PE ratio of -1.77 and a beta of 1.95. Nabors Industries Ltd. has a one year low of $1.81 and a one year high of $8.86.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th were paid a $0.06 dividend. The ex-dividend date was Wednesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 8.33%. Nabors Industries’s dividend payout ratio (DPR) is presently -14.72%.

In related news, Director John P. Kotts purchased 100,000 shares of the stock in a transaction dated Tuesday, November 6th. The stock was bought at an average cost of $5.61 per share, with a total value of $561,000.00. Following the purchase, the director now directly owns 301,949 shares in the company, valued at approximately $1,693,933.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Yearwood purchased 197,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was bought at an average cost of $5.14 per share, with a total value of $1,012,580.00. The disclosure for this purchase can be found here. Corporate insiders own 4.15% of the company’s stock.

Several analysts have weighed in on NBR shares. JPMorgan Chase & Co. cut Nabors Industries from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 11th. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a report on Friday, December 21st. Raymond James cut Nabors Industries from a “strong-buy” rating to a “market perform” rating and set a $2.75 price objective for the company. in a report on Thursday, December 13th. Guggenheim reissued a “buy” rating and set a $11.00 price objective on shares of Nabors Industries in a report on Friday, October 12th. Finally, Bank of America started coverage on Nabors Industries in a report on Wednesday, October 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.83.

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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.

Further Reading: Dividend Aristocrat Index

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

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