Nabors Industries Ltd. (NYSE:NBR) Shares Sold by VR Advisory Services Ltd

VR Advisory Services Ltd lessened its stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 29.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,789 shares of the oil and gas company's stock after selling 56,575 shares during the quarter. Nabors Industries comprises approximately 2.0% of VR Advisory Services Ltd's portfolio, making the stock its 11th biggest position. VR Advisory Services Ltd owned about 1.26% of Nabors Industries worth $7,706,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Miller Value Partners LLC increased its position 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 worth $16,076,000 after purchasing an additional 140,230 shares during the period. Two Sigma Investments LP boosted its stake in shares of Nabors Industries by 300.7% in the fourth quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock valued at $5,185,000 after buying an additional 135,877 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Nabors Industries during the fourth quarter worth $6,602,000. Millennium Management LLC raised its position in Nabors Industries by 669.9% in the fourth quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company's stock worth $4,162,000 after acquiring an additional 85,565 shares in the last quarter. Finally, Barclays PLC raised its position in Nabors Industries by 74.6% in the fourth quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock worth $11,211,000 after acquiring an additional 83,790 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NBR shares. Barclays restated an "underweight" rating and set a $28.00 target price (down from $53.00) on shares of Nabors Industries in a research report on Monday. Royal Bank of Canada decreased their price objective on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. 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. Citigroup decreased their price target on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Morgan Stanley lowered their price target on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $45.83.

Nabors Industries Price Performance

Shares of NYSE NBR opened at $27.38 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. The company's 50-day moving average price is $33.31 and its 200 day moving average price is $50.84. Nabors Industries Ltd. has a 52 week low of $25.11 and a 52 week high of $105.96. The stock has a market cap of $429.87 million, a price-to-earnings ratio of -1.22 and a beta of 1.96.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) EPS for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The business had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. During the same quarter in the prior year, the company earned ($4.54) earnings per share. The firm's revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Nabors Industries Company 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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