Apollo Management Holdings L.P. Trims Stake in Nabors Industries Ltd. (NYSE:NBR)

Apollo Management Holdings L.P. trimmed its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 334,284 shares of the oil and gas company's stock after selling 126,607 shares during the quarter. Nabors Industries accounts for approximately 0.3% of Apollo Management Holdings L.P.'s investment portfolio, making the stock its 18th biggest holding. Apollo Management Holdings L.P. owned 3.12% of Nabors Industries worth $19,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Nabors Industries by 60.8% during the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock valued at $7,241,000 after buying an additional 42,483 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Nabors Industries in the 4th quarter worth $556,000. Proficio Capital Partners LLC acquired a new position in Nabors Industries in the 4th quarter valued at about $664,000. HighTower Advisors LLC grew its position in Nabors Industries by 152.8% in the fourth quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company's stock worth $1,585,000 after acquiring an additional 16,761 shares during the period. Finally, American Century Companies Inc. raised its holdings in Nabors Industries by 12.0% in the 4th quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock valued at $16,340,000 after buying an additional 30,537 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NBR has been the subject of several recent research reports. Susquehanna lowered their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday. Morgan Stanley lowered their target price on shares of Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada cut their price target on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Barclays dropped their price objective on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.17.

Nabors Industries Stock Performance

NYSE:NBR traded down $1.56 during mid-day trading on Monday, reaching $27.18. 111,387 shares of the stock were exchanged, compared to its average volume of 345,542. The stock has a market capitalization of $261.04 million, a P/E ratio of -1.22 and a beta of 1.96. Nabors Industries Ltd. has a 1 year low of $25.11 and a 1 year high of $105.96. The company has a 50 day simple moving average of $35.59 and a 200-day simple moving average of $54.25. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The firm had revenue of $742.78 million during the quarter, compared to analysts' expectations of $706.49 million. During the same period in the previous year, the firm earned ($4.54) EPS. The firm's revenue was up .3% on a year-over-year basis. Analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.