Entropy Technologies LP Trims Stock Position in Nabors Industries Ltd. $NBR

Key Points

• Entropy Technologies LP reduced its stake in Nabors Industries Ltd. by 56.5% during the first quarter, now holding approximately 0.07% of the company valued at $279,000.
• Nabors Industries reported negative earnings of ($2.71) per share for the latest quarter, missing analysts' consensus estimate of ($2.05), despite a year-over-year revenue increase of 12.1%.
• Analysts have varying ratings for Nabors Industries, with a consensus "Hold" rating and an average target price of $41.88, reflecting mixed investor sentiment regarding the stock's performance.

Entropy Technologies LP lessened its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,693 shares of the oil and gas company's stock after selling 8,701 shares during the quarter. Entropy Technologies LP owned about 0.07% of Nabors Industries worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Nabors Industries by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock worth $16,556,000 after purchasing an additional 27,849 shares during the period. Miller Value Partners LLC lifted its holdings in Nabors Industries by 99.5% in the 4th quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company's stock valued at $16,076,000 after purchasing an additional 140,230 shares in the last quarter. Barings LLC purchased a new position in shares of Nabors Industries during the 1st quarter worth $8,864,000. Barclays PLC raised its holdings in shares of Nabors Industries by 74.6% during the 4th quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock worth $11,211,000 after acquiring an additional 83,790 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Nabors Industries by 33.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 150,289 shares of the oil and gas company's stock worth $6,269,000 after acquiring an additional 37,648 shares during the period. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Price Performance

NBR traded up $0.3230 during trading on Tuesday, reaching $31.9030. 64,896 shares of the stock were exchanged, compared to its average volume of 460,678. The business's 50 day moving average price is $32.61 and its two-hundred day moving average price is $34.90. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.79 and a quick ratio of 1.63. The company has a market capitalization of $502.15 million, a price-to-earnings ratio of -2.28 and a beta of 1.52. Nabors Industries Ltd. has a 1 year low of $23.27 and a 1 year high of $86.10.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The oil and gas company reported ($2.71) 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 firm had revenue of $832.79 million for the quarter, compared to analysts' expectations of $857.98 million. During the same quarter in the previous year, the firm posted ($4.29) earnings per share. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NBR. Royal Bank Of Canada cut their price objective on 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. Morgan Stanley decreased their price objective on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Barclays reiterated an "underweight" rating and issued a $28.00 price objective (down previously from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Susquehanna boosted their target price on Nabors Industries from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. decreased 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. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $41.88.

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.