Hara Capital LLC Trims Position in Nabors Industries Ltd. (NYSE:NBR)

Hara Capital LLC decreased its stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 49.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,112 shares of the oil and gas company's stock after selling 30,770 shares during the period. Hara Capital LLC owned 0.32% of Nabors Industries worth $1,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in Nabors Industries during the 4th quarter valued at $36,000. US Bancorp DE boosted its holdings in shares of Nabors Industries by 234.9% during the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock worth $41,000 after purchasing an additional 505 shares during the period. GAMMA Investing LLC raised its holdings in shares of Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock valued at $45,000 after purchasing an additional 900 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Nabors Industries in the 4th quarter worth $97,000. Finally, DRW Securities LLC bought a new position in shares of Nabors Industries during the 4th quarter worth about $234,000. Institutional investors and hedge funds own 81.92% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBR. JPMorgan Chase & Co. lowered their price target on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday, May 28th. Susquehanna boosted their price objective on shares of Nabors Industries from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Citigroup cut their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Barclays restated an "underweight" rating and issued a $28.00 price target (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Finally, Morgan Stanley dropped their price objective on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Nabors Industries has an average rating of "Hold" and a consensus price target of $43.29.

Nabors Industries Trading Down 0.3%

NYSE:NBR opened at $34.25 on Thursday. The company's 50-day simple moving average is $29.72 and its 200 day simple moving average is $40.55. The firm has a market capitalization of $537.71 million, a P/E ratio of -2.17 and a beta of 1.52. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $105.96. The company has a debt-to-equity ratio of 4.13, a current ratio of 1.80 and a quick ratio of 1.62.

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 analysts' consensus estimates of ($2.64) by ($4.86). The company had revenue of $742.78 million for the quarter, compared to the consensus estimate of $706.49 million. Nabors Industries had a negative return on equity of 38.71% and a negative net margin of 3.66%. Nabors Industries's revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.54) EPS. As a group, analysts forecast 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.

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