Hara Capital LLC trimmed its position in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 22.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,882 shares of the oil and gas company's stock after selling 17,505 shares during the quarter. Nabors Industries makes up approximately 2.2% of Hara Capital LLC's holdings, making the stock its 8th largest position. Hara Capital LLC owned 0.64% of Nabors Industries worth $3,538,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nabors Industries by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company's stock valued at $299,000 after buying an additional 228 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Nabors Industries by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company's stock worth $502,000 after purchasing an additional 459 shares during the period. US Bancorp DE raised its position 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. Inspire Investing LLC raised its position in shares of Nabors Industries by 8.8% during the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company's stock worth $397,000 after purchasing an additional 563 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Nabors Industries during the fourth quarter worth $36,000. Institutional investors and hedge funds own 81.92% of the company's stock.
Analyst Ratings Changes
NBR has been the topic of several recent analyst reports. Barclays reissued an "underweight" rating and set a $28.00 price target (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Citigroup decreased their price target on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada decreased their price target on 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. JPMorgan Chase & Co. decreased their price target on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday. Finally, Susquehanna decreased their price target on Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nabors Industries currently has a consensus rating of "Hold" and a consensus target price of $42.86.
Read Our Latest Stock Analysis on NBR
Nabors Industries Stock Performance
Shares of NBR stock traded down $0.54 during mid-day trading on Friday, reaching $25.87. The stock had a trading volume of 353,622 shares, compared to its average volume of 370,774. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $105.96. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The firm's 50 day simple moving average is $30.24 and its 200 day simple moving average is $47.47. The firm has a market cap of $406.16 million, a PE ratio of -1.16 and a beta of 1.96.
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). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The company 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 company posted ($4.54) earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current year.
Nabors Industries Profile
(
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.
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