Invesco Ltd. Decreases Stake in Nabors Industries Ltd. (NYSE:NBR)

Invesco Ltd. reduced its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 21.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,012 shares of the oil and gas company's stock after selling 33,459 shares during the quarter. Invesco Ltd. owned 1.18% of Nabors Industries worth $7,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock valued at $7,241,000 after purchasing an additional 42,483 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nabors Industries by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company's stock worth $13,286,000 after acquiring an additional 3,054 shares during the last quarter. Inspire Investing LLC grew its position in Nabors Industries by 8.8% in the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company's stock worth $397,000 after acquiring an additional 563 shares in the last quarter. R Squared Ltd bought a new position in Nabors Industries in the fourth quarter valued at $70,000. Finally, Entropy Technologies LP boosted its holdings in shares of Nabors Industries by 65.5% in the 4th quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company's stock worth $880,000 after purchasing an additional 6,095 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Down 6.0 %

Shares of NBR traded down $1.73 on Wednesday, reaching $27.13. The stock had a trading volume of 623,624 shares, compared to its average volume of 343,820. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. Nabors Industries Ltd. has a 12-month low of $25.11 and a 12-month high of $105.96. The firm has a market capitalization of $260.56 million, a price-to-earnings ratio of -1.21 and a beta of 1.49. The company has a 50-day simple moving average of $36.18 and a 200-day simple moving average of $55.19.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its earnings results 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 5.93% and a negative return on equity of 32.96%. The business had revenue of $742.78 million for the quarter, compared to the consensus estimate of $706.49 million. During the same quarter last year, the firm posted ($4.54) EPS. The business's quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NBR shares. Susquehanna cut their target price on shares of Nabors Industries from $45.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their price objective on shares of Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Barclays cut their target price on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $71.17.

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.