Vanguard Group Inc. Cuts Position in Nabors Industries Ltd. (NYSE:NBR)

Vanguard Group Inc. lessened its stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 875,042 shares of the oil and gas company's stock after selling 82,816 shares during the quarter. Vanguard Group Inc. owned 9.24% of Nabors Industries worth $107,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NBR. Quarry LP acquired a new stake in Nabors Industries during the first quarter valued at approximately $25,000. US Bancorp DE grew its holdings in shares of Nabors Industries by 72.1% during the second quarter. US Bancorp DE now owns 389 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 163 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Nabors Industries by 89.6% during the third quarter. Tower Research Capital LLC TRC now owns 565 shares of the oil and gas company's stock valued at $57,000 after purchasing an additional 267 shares during the last quarter. State of Wyoming grew its holdings in shares of Nabors Industries by 55.6% during the fourth quarter. State of Wyoming now owns 585 shares of the oil and gas company's stock valued at $91,000 after purchasing an additional 209 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Nabors Industries by 43.1% during the third quarter. Royal Bank of Canada now owns 793 shares of the oil and gas company's stock valued at $80,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

Analyst Upgrades and Downgrades

NBR has been the subject of several recent research reports. Benchmark lowered Nabors Industries from a "buy" rating to a "hold" rating in a report on Tuesday, January 16th. Atb Cap Markets lowered Nabors Industries from an "outperform" rating to a "sector perform" rating in a report on Friday, December 22nd. Susquehanna reissued a "neutral" rating and issued a $88.00 price objective on shares of Nabors Industries in a report on Tuesday, February 13th. StockNews.com lowered Nabors Industries from a "buy" rating to a "hold" rating in a report on Thursday, December 7th. Finally, Morgan Stanley decreased their price objective on Nabors Industries from $160.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $129.60.

Nabors Industries Stock Down 3.7 %

Nabors Industries stock traded down $3.33 during mid-day trading on Thursday, hitting $87.01. 322,985 shares of the company's stock were exchanged, compared to its average volume of 247,220. The stock has a market cap of $823.98 million, a P/E ratio of -16.86 and a beta of 2.33. The stock has a 50 day moving average of $83.67 and a two-hundred day moving average of $91.87. Nabors Industries Ltd. has a 1-year low of $71.42 and a 1-year high of $141.47. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($2.30). The business had revenue of $737.84 million during the quarter, compared to analyst estimates of $749.52 million. Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. As a group, analysts anticipate that Nabors Industries Ltd. will post -4.3 EPS for the current fiscal year.

Nabors Industries 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.