Hara Capital LLC Sells 17,505 Shares of Nabors Industries Ltd. (NYSE:NBR)

Hara Capital LLC lessened its position in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 22.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,882 shares of the oil and gas company's stock after selling 17,505 shares during the period. Nabors Industries makes up 2.2% of Hara Capital LLC's investment portfolio, making the stock its 8th largest holding. Hara Capital LLC owned 0.64% of Nabors Industries worth $3,538,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Nabors Industries by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 696,155 shares of the oil and gas company's stock valued at $39,799,000 after purchasing an additional 18,017 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 valued at $16,556,000 after acquiring an additional 27,849 shares in the last quarter. American Century Companies Inc. increased its holdings 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 acquiring an additional 30,537 shares in the last quarter. Miller Value Partners LLC increased its holdings in Nabors Industries by 99.5% during 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 acquiring an additional 140,230 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Nabors Industries by 41.0% during 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 acquiring an additional 58,946 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Trading Up 4.5%

Shares of NBR traded up $1.14 during mid-day trading on Thursday, hitting $26.45. The company had a trading volume of 349,950 shares, compared to its average volume of 369,428. The business's 50-day simple moving average is $30.59 and its 200-day simple moving average is $48.22. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $105.96. The stock has a market cap of $415.31 million, a PE ratio of -1.18 and a beta of 1.96.

Nabors Industries (NYSE:NBR - Get Free Report) last released its 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 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 prior year, the business posted ($4.54) earnings per share. Nabors Industries's revenue was up .3% on a year-over-year basis. Sell-side analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Susquehanna dropped their target price on shares of Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Royal Bank of Canada dropped 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 report on Thursday, May 1st. Morgan Stanley dropped their target price on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, May 16th. JPMorgan Chase & Co. dropped their target price on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday. Finally, Citigroup lowered their price target 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. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $42.86.

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.