Readystate Asset Management LP Has $1.69 Million Stock Position in Nabors Industries Ltd. (NYSE:NBR)

Readystate Asset Management LP lifted its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 78.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,505 shares of the oil and gas company's stock after acquiring an additional 17,780 shares during the quarter. Readystate Asset Management LP owned approximately 0.42% of Nabors Industries worth $1,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NBR. Y Intercept Hong Kong Ltd acquired a new position in Nabors Industries in the first quarter valued at approximately $438,000. Mission Wealth Management LP acquired a new position in Nabors Industries in the first quarter valued at approximately $236,000. SG Americas Securities LLC lifted its holdings in Nabors Industries by 178.7% in the first quarter. SG Americas Securities LLC now owns 6,666 shares of the oil and gas company's stock valued at $278,000 after buying an additional 4,274 shares during the period. 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 valued at $45,000 after buying an additional 900 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Nabors Industries in the fourth quarter valued at approximately $36,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Stock Down 0.7%

NBR stock traded down $0.23 during mid-day trading on Friday, hitting $33.06. 382,880 shares of the company were exchanged, compared to its average volume of 477,378. The company has a debt-to-equity ratio of 4.13, a quick ratio of 1.62 and a current ratio of 1.80. The firm has a market cap of $519.03 million, a P/E ratio of -2.11 and a beta of 1.52. The firm's 50 day simple moving average is $30.55 and its 200 day simple moving average is $38.39. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $105.96.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative return on equity of 38.71% and a negative net margin of 3.66%. The company had revenue of $742.78 million for the quarter, compared to the consensus estimate of $706.49 million. During the same period in the prior year, the company earned ($4.54) EPS. The firm's revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NBR shares. Piper Sandler started coverage on shares of Nabors Industries in a report on Monday, July 14th. They issued an "underweight" rating and a $30.00 price objective on the stock. Barclays restated an "underweight" rating and issued a $28.00 price objective (down from $53.00) on shares of Nabors Industries in a report on Monday, May 19th. Citigroup lowered 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 note on Tuesday, May 13th. Royal Bank Of Canada cut their target price 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. Finally, Morgan Stanley cut their target price 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. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Nabors Industries currently has an average rating of "Hold" and a consensus price target of $41.63.

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.