Van ECK Associates Corp Boosts Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Van ECK Associates Corp raised its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 214,415 shares of the oil and gas company's stock after buying an additional 13,552 shares during the quarter. Van ECK Associates Corp owned 2.26% of Nabors Industries worth $17,503,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Nabors Industries during the fourth quarter worth $97,000. RIA Advisory Group LLC acquired a new position in Nabors Industries in the fourth quarter worth $980,000. Everence Capital Management Inc. acquired a new position in shares of Nabors Industries during the fourth quarter valued at $257,000. Strs Ohio increased its position in Nabors Industries by 68.0% in the fourth quarter. Strs Ohio now owns 4,200 shares of the oil and gas company's stock worth $342,000 after purchasing an additional 1,700 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in Nabors Industries in the fourth quarter worth about $367,000. 81.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Benchmark reaffirmed a "hold" rating on shares of Nabors Industries in a research note on Thursday, April 25th. Morgan Stanley lowered their target price on shares of Nabors Industries from $160.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, February 12th. Finally, Susquehanna cut their price target on Nabors Industries from $88.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $127.80.

Nabors Industries Trading Down 0.9 %

NYSE NBR traded down $0.61 during trading on Thursday, reaching $70.38. 193,396 shares of the stock traded hands, compared to its average volume of 248,165. Nabors Industries Ltd. has a fifty-two week low of $70.25 and a fifty-two week high of $141.47. The company has a quick ratio of 1.23, a current ratio of 1.78 and a debt-to-equity ratio of 4.81. The firm has a market cap of $753.07 million, a price-to-earnings ratio of -5.14 and a beta of 2.37. The stock's 50-day moving average price is $82.58 and its 200 day moving average price is $86.18.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The firm had revenue of $743.91 million during the quarter, compared to analyst estimates of $730.59 million. Analysts predict that Nabors Industries Ltd. will post -5.12 EPS for the current 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.