Insider Buying: Nabors Industries Ltd. (NBR) Director Buys 100,000 Shares of Stock

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Nabors Industries Ltd. (NYSE:NBR) Director John P. Kotts purchased 100,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were acquired at an average price of $5.61 per share, with a total value of $561,000.00. Following the transaction, the director now owns 301,949 shares in the company, valued at $1,693,933.89. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NYSE NBR traded up $0.06 during trading on Friday, reaching $5.18. 451,996 shares of the stock traded hands, compared to its average volume of 13,944,653. The stock has a market cap of $1.99 billion, a P/E ratio of -3.16 and a beta of 1.69. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.84 and a current ratio of 2.05. Nabors Industries Ltd. has a fifty-two week low of $4.49 and a fifty-two week high of $8.86.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). The firm had revenue of $779.43 million for the quarter, compared to analyst estimates of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) EPS. Analysts predict that Nabors Industries Ltd. will post -1.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Thursday, December 13th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Wednesday, December 12th. Nabors Industries’s dividend payout ratio is currently -14.72%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Nabors Industries by 12.3% in the second quarter. BlackRock Inc. now owns 31,330,733 shares of the oil and gas company’s stock valued at $200,829,000 after buying an additional 3,443,863 shares in the last quarter. Van ECK Associates Corp lifted its stake in Nabors Industries by 5.8% in the second quarter. Van ECK Associates Corp now owns 17,791,852 shares of the oil and gas company’s stock valued at $114,046,000 after buying an additional 970,312 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in Nabors Industries by 26.0% in the third quarter. Deprince Race & Zollo Inc. now owns 6,106,150 shares of the oil and gas company’s stock valued at $37,614,000 after buying an additional 1,261,551 shares in the last quarter. Northern Trust Corp lifted its stake in Nabors Industries by 8.2% in the second quarter. Northern Trust Corp now owns 3,093,157 shares of the oil and gas company’s stock valued at $19,826,000 after buying an additional 235,459 shares in the last quarter. Finally, Strs Ohio lifted its stake in Nabors Industries by 1.6% in the second quarter. Strs Ohio now owns 2,549,348 shares of the oil and gas company’s stock valued at $16,341,000 after buying an additional 39,348 shares in the last quarter. Hedge funds and other institutional investors own 96.82% of the company’s stock.

Several equities research analysts have recently commented on NBR shares. Royal Bank of Canada set a $12.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, September 20th. Wolfe Research started coverage on shares of Nabors Industries in a research report on Wednesday, October 10th. They set an “outperform” rating for the company. BMO Capital Markets set a $8.00 price target on shares of Nabors Industries and gave the stock a “hold” rating in a research report on Thursday, July 12th. Bank of America started coverage on shares of Nabors Industries in a research report on Wednesday, October 17th. They set a “buy” rating for the company. Finally, Societe Generale upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $8.96.

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About Nabors Industries

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.

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