Quantbot Technologies LP Buys New Position in Nabors Industries Ltd. $NBR

Key Points

• Quantbot Technologies LP invested approximately $937,000 in Nabors Industries, acquiring 22,458 shares and owning about 0.23% of the company by the end of the last quarter.
• Several institutional investors increased their holdings in Nabors Industries, with Wells Fargo increasing its stake by 6.4% and other firms like Dimensional Fund Advisors growing by over 10%.
• Nabors Industries reported a loss of $2.71 earnings per share for the last quarter, missing estimates, and analysts have mixed ratings with a consensus target price of $42.13.

Quantbot Technologies LP bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 22,458 shares of the oil and gas company's stock, valued at approximately $937,000. Quantbot Technologies LP owned about 0.23% of Nabors Industries at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nabors Industries by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company's stock worth $299,000 after purchasing an additional 228 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Nabors Industries by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company's stock worth $502,000 after purchasing an additional 459 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Nabors Industries in the fourth quarter worth about $36,000. GAMMA Investing LLC lifted its holdings in Nabors Industries by 520.2% in the first quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 900 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Nabors Industries by 3,866.7% in the first quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 1,276 shares during the period. 81.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NBR has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price target on shares of Nabors Industries from $45.00 to $47.00 and gave the company a "sector perform" rating in a report on Thursday, August 21st. Morgan Stanley dropped their target price on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Citigroup dropped their target price on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Susquehanna increased their price objective on Nabors Industries from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, May 28th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $43.00.

Nabors Industries Trading Up 2.9%

NBR traded up $1.07 during midday trading on Friday, reaching $37.40. 317,091 shares of the company were exchanged, compared to its average volume of 566,784. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.63 and a current ratio of 1.79. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $86.10. The stock has a market capitalization of $588.61 million, a P/E ratio of -2.66 and a beta of 1.52. The stock's 50-day simple moving average is $32.84 and its 200 day simple moving average is $33.93.

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

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.