Barings LLC Takes Position in Nabors Industries Ltd. (NYSE:NBR)

Barings LLC purchased a new position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 212,526 shares of the oil and gas company's stock, valued at approximately $8,864,000. Barings LLC owned 2.21% of Nabors Industries at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Miller Value Partners LLC lifted its position in shares of Nabors Industries by 99.5% during the fourth quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company's stock worth $16,076,000 after purchasing an additional 140,230 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Nabors Industries by 300.7% in the 4th quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock worth $5,185,000 after buying an additional 135,877 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Nabors Industries in the 4th quarter worth $6,602,000. Millennium Management LLC boosted its position in Nabors Industries by 669.9% in the 4th quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company's stock valued at $4,162,000 after buying an additional 85,565 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Nabors Industries by 74.6% during the fourth quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock valued at $11,211,000 after acquiring an additional 83,790 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

Nabors Industries stock opened at $31.65 on Friday. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.79 and a quick ratio of 1.62. Nabors Industries Ltd. has a 12 month low of $23.27 and a 12 month high of $90.32. The company has a fifty day moving average price of $31.33 and a two-hundred day moving average price of $37.55. The company has a market cap of $496.91 million, a PE ratio of -2.25 and a beta of 1.51.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.05) by ($0.66). Nabors Industries had a negative return on equity of 35.99% and a negative net margin of 3.51%. The business had revenue of $832.79 million during the quarter, compared to the consensus estimate of $857.98 million. During the same quarter in the previous year, the business posted ($4.29) earnings per share. The company's quarterly revenue was up 12.1% compared to the same quarter last year. Research analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on NBR shares. Citigroup cut their price target on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. reduced their target price on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, May 28th. Barclays reissued an "underweight" rating and set a $28.00 price target (down previously from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Susquehanna upped their price target on shares of Nabors Industries from $29.00 to $32.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada dropped their target price on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.63.

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.

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