Nuveen LLC Takes Position in Nabors Industries Ltd. $NBR

Nuveen LLC acquired a new position in Nabors Industries Ltd. (NYSE:NBR - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 28,095 shares of the oil and gas company's stock, valued at approximately $1,172,000. Nuveen LLC owned approximately 0.29% of Nabors Industries at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NBR. Barings LLC acquired a new position in Nabors Industries in the 1st quarter worth $8,864,000. Two Sigma Investments LP lifted its holdings in Nabors Industries by 300.7% in the 4th quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock worth $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 in the 4th quarter worth $6,602,000. Millennium Management LLC lifted its holdings in Nabors Industries by 669.9% in the 4th quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company's stock worth $4,162,000 after buying an additional 85,565 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Nabors Industries by 25,769.9% in the 1st quarter. GAMMA Investing LLC now owns 44,755 shares of the oil and gas company's stock worth $1,867,000 after buying an additional 44,582 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Stock Performance

NYSE NBR traded up $0.74 on Friday, hitting $38.52. The stock had a trading volume of 327,895 shares, compared to its average volume of 468,979. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $86.10. The company has a quick ratio of 1.63, a current ratio of 1.79 and a debt-to-equity ratio of 4.17. The stock has a market cap of $606.23 million, a price-to-earnings ratio of -2.74 and a beta of 1.60. The company's 50-day moving average is $33.47 and its two-hundred day moving average is $33.58.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The oil and gas company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($2.05) by ($0.66). Nabors Industries had a negative return on equity of 35.99% and a negative net margin of 3.51%.The firm had revenue of $832.79 million during the quarter, compared to the consensus estimate of $857.98 million. During the same quarter last year, the company posted ($4.29) EPS. Nabors Industries's revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Analyst Ratings Changes

NBR has been the topic of several recent analyst reports. Morgan Stanley cut their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock 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 research report on Wednesday, May 28th. Barclays reissued an "underweight" rating and issued a $28.00 target price (down previously from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Citigroup dropped their target price on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Nabors Industries from $45.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Nabors Industries currently has an average rating of "Reduce" and an average price target of $43.00.

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.