Hara Capital LLC Sells 30,770 Shares of Nabors Industries Ltd. (NYSE:NBR)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NBR. US Bancorp DE increased its position 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 valued at $41,000 after purchasing an additional 505 shares during the period. Proficio Capital Partners LLC acquired a new stake in Nabors Industries during the 4th quarter valued at approximately $664,000. Amundi increased its position in Nabors Industries by 192.8% during the 4th quarter. Amundi now owns 7,115 shares of the oil and gas company's stock valued at $443,000 after purchasing an additional 4,685 shares during the period. HighTower Advisors LLC increased its position in Nabors Industries by 152.8% during the 4th quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company's stock valued at $1,585,000 after purchasing an additional 16,761 shares during the period. Finally, American Century Companies Inc. increased its position in Nabors Industries by 12.0% during the 4th quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock valued at $16,340,000 after purchasing an additional 30,537 shares during the period. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Trading Down 1.4%

Shares of NBR stock traded down $0.50 during trading hours on Friday, hitting $34.17. 244,305 shares of the company were exchanged, compared to its average volume of 405,578. The company has a 50 day simple moving average of $29.98 and a two-hundred day simple moving average of $40.13. 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 debt-to-equity ratio of 4.13, a quick ratio of 1.62 and a current ratio of 1.80. The firm has a market cap of $536.48 million, a P/E ratio of -2.18 and a beta of 1.52.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 3.66% and a negative return on equity of 38.71%. The business had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. During the same period in the previous year, the business posted ($4.54) EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Wall Street Analyst Weigh In

NBR has been the subject of a number of recent analyst reports. Citigroup decreased their target price on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Royal Bank Of Canada reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, May 28th. Susquehanna raised their price objective on shares of Nabors Industries from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Morgan Stanley reduced their price objective on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Nabors Industries currently has a consensus rating of "Hold" and a consensus price target of $43.29.

About Nabors Industries

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.