Voloridge Investment Management LLC Sells 24,160 Shares of Nabors Industries Ltd. (NYSE:NBR)

Voloridge Investment Management LLC lessened its stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,938 shares of the oil and gas company's stock after selling 24,160 shares during the quarter. Voloridge Investment Management LLC owned 0.17% of Nabors Industries worth $1,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NBR. US Bancorp DE lifted its position in Nabors Industries by 234.9% in 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. R Squared Ltd acquired a new stake in Nabors Industries in the fourth quarter worth approximately $70,000. KLP Kapitalforvaltning AS acquired a new stake in Nabors Industries in the fourth quarter worth approximately $97,000. DRW Securities LLC acquired a new stake in shares of Nabors Industries during the 4th quarter valued at $234,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nabors Industries during the 4th quarter valued at $284,000. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Trading Up 2.5%

Shares of NBR traded up $0.64 during trading hours on Monday, reaching $26.45. The stock had a trading volume of 369,067 shares, compared to its average volume of 370,811. 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 52 week low of $23.27 and a 52 week high of $105.96. The firm has a 50-day moving average of $30.24 and a 200 day moving average of $47.47. The company has a market cap of $415.27 million, a P/E ratio of -1.19 and a beta of 1.96.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $742.78 million during the quarter, compared to the consensus estimate of $706.49 million. During the same quarter in the prior year, the company earned ($4.54) EPS. Nabors Industries's quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on NBR. Susquehanna reduced their price objective on Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Citigroup reduced their price objective on 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 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. Morgan Stanley reduced their price objective on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Barclays reissued 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, May 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $42.86.

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.