Cubist Systematic Strategies LLC Makes New Investment in Nabors Industries Ltd. (NYSE:NBR)

Cubist Systematic Strategies LLC purchased a new position in Nabors Industries Ltd. (NYSE:NBR - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 38,595 shares of the oil and gas company's stock, valued at approximately $2,207,000. Cubist Systematic Strategies LLC owned approximately 0.36% of Nabors Industries at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NBR. US Bancorp DE raised its holdings in Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock worth $41,000 after buying an additional 505 shares during the period. R Squared Ltd acquired a new stake in Nabors Industries during the 4th quarter worth about $70,000. KLP Kapitalforvaltning AS acquired a new stake in Nabors Industries during the 4th quarter worth about $97,000. DRW Securities LLC acquired a new stake in Nabors Industries during the 4th quarter worth about $234,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Nabors Industries during the 4th quarter worth about $284,000. 81.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NBR. Barclays cut 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. Citigroup lowered their target price on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday. Royal Bank of Canada lowered their target price on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley lowered their target price on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Susquehanna lowered their target price on Nabors Industries from $32.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $50.00.

Nabors Industries Stock Down 2.7%

Shares of NYSE NBR traded down $0.82 during trading hours on Friday, hitting $29.89. The stock had a trading volume of 371,611 shares, compared to its average volume of 358,387. The company has a market capitalization of $287.03 million, a P/E ratio of -1.34 and a beta of 1.96. The firm's 50-day moving average price is $33.57 and its two-hundred day moving average price is $51.31. Nabors Industries Ltd. has a 52 week low of $25.11 and a 52 week high of $105.96. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75.

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

Nabors Industries 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.