Nabors Industries Ltd. (NYSE:NBR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 33.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,065 shares of the oil and gas company's stock after selling 10,775 shares during the quarter. Rhumbline Advisers owned 0.22% of Nabors Industries worth $879,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NBR. Vanguard Group Inc. raised its position in Nabors Industries by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 696,155 shares of the oil and gas company's stock valued at $39,799,000 after acquiring an additional 18,017 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Nabors Industries by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock worth $16,556,000 after purchasing an additional 27,849 shares during the period. American Century Companies Inc. grew its stake in shares of Nabors Industries by 12.0% during the 4th quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock worth $16,340,000 after purchasing an additional 30,537 shares during the period. Miller Value Partners LLC increased its holdings in shares of Nabors Industries by 99.5% during the 4th quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company's stock valued at $16,076,000 after purchasing an additional 140,230 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Nabors Industries by 74.6% in the 4th quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock valued at $11,211,000 after purchasing an additional 83,790 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Price Performance

Shares of NYSE NBR traded down $0.89 during mid-day trading on Tuesday, reaching $29.68. The company's stock had a trading volume of 550,647 shares, compared to its average volume of 390,404. The stock has a 50-day moving average of $29.39 and a two-hundred day moving average of $42.92. 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 stock has a market capitalization of $465.94 million, a P/E ratio of -1.90 and a beta of 1.52. 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 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 3.66% and a negative return on equity of 38.71%. The business had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. During the same quarter in the previous year, the company posted ($4.54) EPS. The firm's revenue was up .3% on a year-over-year basis. On average, equities research analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Analyst Ratings Changes

NBR has been the subject of a number of recent analyst reports. 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. Royal Bank Of Canada dropped their price target on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective 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. Morgan Stanley dropped their target price on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Finally, Citigroup reduced their price target 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Nabors Industries currently has an average rating of "Hold" and a consensus target price 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.