GAMMA Investing LLC grew its position in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 25,769.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,755 shares of the oil and gas company's stock after buying an additional 44,582 shares during the period. GAMMA Investing LLC owned approximately 0.47% of Nabors Industries worth $1,867,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in NBR. Van ECK Associates Corp grew its holdings in shares of Nabors Industries by 41.0% in the 4th quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company's stock valued at $11,580,000 after buying an additional 58,946 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Nabors Industries by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 43,602 shares of the oil and gas company's stock valued at $2,493,000 after buying an additional 1,184 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Nabors Industries in the 4th quarter valued at $664,000. US Bancorp DE grew its holdings in shares of Nabors Industries by 234.9% in the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after buying an additional 505 shares during the period. Finally, Amundi grew its holdings in shares of Nabors Industries by 192.8% in the 4th quarter. Amundi now owns 7,115 shares of the oil and gas company's stock valued at $443,000 after buying an additional 4,685 shares during the period. Institutional investors and hedge funds own 81.92% of the company's stock.
Nabors Industries Stock Down 3.1%
Shares of Nabors Industries stock traded down $1.07 during trading hours on Wednesday, reaching $33.72. 360,734 shares of the company's stock were exchanged, compared to its average volume of 386,728. The company has a 50 day moving average of $29.15 and a two-hundred day moving average of $44.09. Nabors Industries Ltd. has a fifty-two week low of $23.27 and a fifty-two week high of $105.96. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 4.13. The stock has a market cap of $529.36 million, a P/E ratio of -2.16 and a beta of 1.52.
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 (EPS) for the quarter, missing analysts' consensus estimates 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 3.66% and a negative return on equity of 38.71%. The firm's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.54) earnings per share. On average, sell-side analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on NBR shares. JPMorgan Chase & Co. reduced their target price on shares of 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 reaffirmed an "underweight" rating and issued a $28.00 target price (down from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Royal Bank Of Canada reduced 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 note on Thursday, May 1st. Susquehanna reduced their target price 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, May 1st. Finally, Morgan Stanley reduced their target price on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.86.
Check Out Our Latest Analysis on NBR
About Nabors Industries
(
Free Report)
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.
Further Reading
Before you consider Nabors Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nabors Industries wasn't on the list.
While Nabors Industries currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
