Two Sigma Advisers LP Has $1.69 Million Holdings in Nabors Industries Ltd. (NYSE:NBR)

Two Sigma Advisers LP grew its holdings in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 169.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,600 shares of the oil and gas company's stock after purchasing an additional 18,600 shares during the period. Two Sigma Advisers LP owned approximately 0.28% of Nabors Industries worth $1,692,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NBR. Miller Value Partners LLC increased its holdings in shares of Nabors Industries by 99.5% during the fourth 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 during the period. Two Sigma Investments LP increased its holdings in shares of Nabors Industries by 300.7% during the fourth quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock valued at $5,185,000 after purchasing an additional 135,877 shares during the period. Balyasny Asset Management L.P. bought a new position in Nabors Industries during the fourth quarter valued at about $6,602,000. Millennium Management LLC boosted its stake in Nabors Industries by 669.9% during the fourth quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company's stock valued at $4,162,000 after buying an additional 85,565 shares in the last quarter. Finally, Barclays PLC boosted its stake in Nabors Industries by 74.6% during the fourth quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock valued at $11,211,000 after buying an additional 83,790 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NBR. JPMorgan Chase & Co. decreased their target price on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, May 28th. Royal Bank of Canada cut their price objective on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Susquehanna decreased 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 decreased 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. Finally, Morgan Stanley lowered their price target on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Nabors Industries has a consensus rating of "Hold" and an average price target of $42.86.

Nabors Industries Price Performance

NYSE NBR traded up $2.57 on Tuesday, hitting $29.75. 602,133 shares of the company were exchanged, compared to its average volume of 373,164. The firm has a 50 day moving average of $29.63 and a two-hundred day moving average of $47.03. The company has a market cap of $467.08 million, a P/E ratio of -1.33 and a beta of 1.96. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. 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 results 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). The company had revenue of $742.78 million for the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned ($4.54) EPS. On average, equities analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Nabors Industries Company 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.