Nabors Industries Ltd. (NYSE:NBR) Shares Purchased by Miller Value Partners LLC

Miller Value Partners LLC lifted its position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 99.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,195 shares of the oil and gas company's stock after acquiring an additional 140,230 shares during the period. Nabors Industries makes up approximately 6.9% of Miller Value Partners LLC's portfolio, making the stock its 3rd largest position. Miller Value Partners LLC owned approximately 2.63% of Nabors Industries worth $16,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nebula Research & Development LLC increased its position in shares of Nabors Industries by 278.6% during the fourth quarter. Nebula Research & Development LLC now owns 12,923 shares of the oil and gas company's stock valued at $739,000 after acquiring an additional 9,510 shares in the last quarter. Price T Rowe Associates Inc. MD boosted 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in Nabors Industries by 10.6% in the fourth 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 last quarter. Canada Pension Plan Investment Board boosted its holdings in Nabors Industries by 36.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 37,300 shares of the oil and gas company's stock worth $2,132,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Nabors Industries during the 4th quarter worth $1,042,000. Institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Down 8.2 %

Shares of NYSE:NBR traded down $2.37 on Wednesday, reaching $26.49. The company had a trading volume of 211,244 shares, compared to its average volume of 341,794. Nabors Industries Ltd. has a 52-week low of $25.11 and a 52-week high of $105.96. The firm's 50 day simple moving average is $36.51 and its 200-day simple moving average is $55.39. The firm has a market capitalization of $254.41 million, a PE ratio of -1.18 and a beta of 1.49. 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 (NYSE:NBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (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 company had revenue of $742.78 million during the quarter, compared to analysts' expectations of $706.49 million. During the same quarter in the prior year, the business posted ($4.54) earnings per share. The company's revenue was up .3% compared to the same quarter last year. As a group, analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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