Laurion Capital Management LP Acquires New Holdings in Nabors Industries Ltd. (NBR)

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Laurion Capital Management LP acquired a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 934,444 shares of the oil and gas company’s stock, valued at approximately $5,990,000. Laurion Capital Management LP owned approximately 0.26% of Nabors Industries as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Glen Harbor Capital Management LLC increased its holdings in shares of Nabors Industries by 34.4% during the second quarter. Glen Harbor Capital Management LLC now owns 31,968 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 8,176 shares in the last quarter. Van ECK Associates Corp increased its holdings in Nabors Industries by 5.8% in the 2nd quarter. Van ECK Associates Corp now owns 17,791,852 shares of the oil and gas company’s stock worth $114,046,000 after buying an additional 970,312 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Nabors Industries by 12.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 135,423 shares of the oil and gas company’s stock worth $868,000 after buying an additional 15,413 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Nabors Industries in the 2nd quarter worth approximately $139,000. Finally, NumerixS Investment Technologies Inc acquired a new position in Nabors Industries in the 2nd quarter worth approximately $106,000. Hedge funds and other institutional investors own 96.25% of the company’s stock.

Nabors Industries stock opened at $5.88 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.84 and a current ratio of 2.04. Nabors Industries Ltd. has a 12 month low of $5.32 and a 12 month high of $8.86. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -3.61 and a beta of 1.64.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, July 31st. The oil and gas company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.15). Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The company had revenue of $761.92 million during the quarter, compared to analysts’ expectations of $755.76 million. During the same quarter in the prior year, the company posted ($0.41) EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. sell-side analysts expect that Nabors Industries Ltd. will post -0.99 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 11th will be given a $0.06 dividend. The ex-dividend date is Monday, September 10th. This represents a $0.24 annualized dividend and a yield of 4.08%. Nabors Industries’s dividend payout ratio is presently -14.72%.

Several equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Nabors Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, June 2nd. Societe Generale upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, August 3rd. Citigroup cut their price target on shares of Nabors Industries from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, July 11th. Seaport Global Securities reiterated a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a report on Thursday, August 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $13.00 price target on shares of Nabors Industries in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $9.00.

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.

See Also: Understanding Price to Earnings Ratio (PE)

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

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