SG Americas Securities LLC Buys 107,417 Shares of Nabors Industries Ltd. (NBR)

SG Americas Securities LLC raised its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 738.3% during the first quarter, Holdings Channel reports. The institutional investor owned 121,967 shares of the oil and gas company’s stock after buying an additional 107,417 shares during the period. SG Americas Securities LLC’s holdings in Nabors Industries were worth $1,594,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NBR. Discovery Capital Management LLC CT acquired a new stake in Nabors Industries during the fourth quarter worth $124,125,000. Norges Bank acquired a new stake in Nabors Industries during the fourth quarter worth $69,004,000. Allianz Asset Management AG boosted its stake in Nabors Industries by 1,334.8% in the fourth quarter. Allianz Asset Management AG now owns 3,854,536 shares of the oil and gas company’s stock worth $63,214,000 after buying an additional 3,585,884 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nabors Industries by 30.4% in the first quarter. Bank of New York Mellon Corp now owns 14,125,222 shares of the oil and gas company’s stock worth $184,617,000 after buying an additional 3,296,758 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Nabors Industries by 128.3% in the fourth quarter. AQR Capital Management LLC now owns 3,815,850 shares of the oil and gas company’s stock worth $62,580,000 after buying an additional 2,144,554 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

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

Nabors Industries Ltd. (NBR) traded down 8.48% during trading on Wednesday, hitting $8.09. The company had a trading volume of 11,926,269 shares. Nabors Industries Ltd. has a 12 month low of $7.95 and a 12 month high of $18.40. The company’s market cap is $2.31 billion. The company’s 50 day moving average price is $10.11 and its 200-day moving average price is $13.94.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, April 26th. The oil and gas company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.36) by $0.16. Nabors Industries had a negative return on equity of 8.04% and a negative net margin of 36.84%. The firm had revenue of $563 million during the quarter, compared to the consensus estimate of $569.96 million. During the same quarter last year, the company posted ($0.29) EPS. Nabors Industries’s revenue for the quarter was up 30.7% on a year-over-year basis. Equities analysts expect that Nabors Industries Ltd. will post ($1.33) earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.97%. The ex-dividend date is Monday, June 12th. Nabors Industries’s dividend payout ratio (DPR) is -7.92%.

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NBR has been the topic of a number of analyst reports. Citigroup Inc restated a “buy” rating on shares of Nabors Industries in a research note on Wednesday, May 10th. Goldman Sachs Group Inc cut Nabors Industries from a “conviction-buy” rating to a “buy” rating and raised their price target for the company from $17.50 to $18.00 in a research note on Friday, April 28th. Jefferies Group LLC cut their price target on Nabors Industries from $15.00 to $11.50 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday, May 27th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $21.00 price target on shares of Nabors Industries in a research note on Thursday, March 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company. Nabors Industries presently has an average rating of “Buy” and a consensus target price of $16.16.

In other news, CFO William J. Restrepo bought 22,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was purchased at an average price of $9.43 per share, for a total transaction of $207,460.00. Following the transaction, the chief financial officer now owns 939,694 shares in the company, valued at $8,861,314.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.53% of the stock is currently owned by corporate insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NBR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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