VR Advisory Services Ltd decreased its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 29.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,789 shares of the oil and gas company's stock after selling 56,575 shares during the period. Nabors Industries comprises about 2.0% of VR Advisory Services Ltd's investment portfolio, making the stock its 11th biggest holding. VR Advisory Services Ltd owned 1.26% of Nabors Industries worth $7,706,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE increased its holdings in shares of Nabors Industries by 234.9% in the 4th 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 in the last quarter. R Squared Ltd bought a new stake in shares of Nabors Industries in the 4th quarter worth $70,000. KLP Kapitalforvaltning AS bought a new stake in shares of Nabors Industries in the 4th quarter worth $97,000. DRW Securities LLC bought a new stake in shares of Nabors Industries in the 4th quarter worth $234,000. Finally, Corton Capital Inc. bought a new stake in shares of Nabors Industries in the 4th quarter worth $284,000. Institutional investors own 81.92% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NBR. Citigroup reduced their target price on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Susquehanna cut their price objective on 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 cut their price objective on 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 cut their price objective on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, Barclays reaffirmed an "underweight" rating and issued a $28.00 price objective (down previously from $53.00) on shares of Nabors Industries in a report on Monday, May 19th. One analyst has 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.com, the stock has a consensus rating of "Hold" and an average price target of $45.83.
Check Out Our Latest Report on Nabors Industries
Nabors Industries Stock Performance
NYSE NBR traded up $0.77 on Friday, hitting $26.28. 431,766 shares of the company traded hands, compared to its average volume of 368,003. The company has a market capitalization of $412.52 million, a price-to-earnings ratio of -1.18 and a beta of 1.96. 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 business's 50 day moving average price is $31.99 and its 200-day moving average price is $49.55. Nabors Industries Ltd. has a 52-week low of $23.27 and a 52-week high of $105.96.
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 for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The company had revenue of $742.78 million for the quarter, compared to analysts' expectations of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. Nabors Industries's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted ($4.54) earnings per share. Equities analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.
Nabors Industries Profile
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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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