PDT Partners LLC Sells 13,822 Shares of Nabors Industries Ltd. (NYSE:NBR)

PDT Partners LLC cut its holdings in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 29.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,837 shares of the oil and gas company's stock after selling 13,822 shares during the quarter. PDT Partners LLC owned 0.31% of Nabors Industries worth $1,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBR. Barclays PLC increased its holdings in Nabors Industries by 60.8% in the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock valued at $7,241,000 after buying an additional 42,483 shares during the period. Bryce Point Capital LLC bought a new position in Nabors Industries in the fourth quarter valued at approximately $556,000. Proficio Capital Partners LLC acquired a new position in Nabors Industries during the fourth quarter valued at approximately $664,000. HighTower Advisors LLC lifted its stake in Nabors Industries by 152.8% during the fourth quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company's stock worth $1,585,000 after purchasing an additional 16,761 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Nabors Industries by 12.0% in the 4th quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock valued at $16,340,000 after purchasing an additional 30,537 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NBR. Barclays lowered their price target on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Morgan Stanley dropped their target price on shares of Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Royal Bank of Canada decreased their price target on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a report on Thursday. Finally, Susquehanna dropped their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $61.17.

Nabors Industries Trading Up 5.0 %

Shares of Nabors Industries stock traded up $1.36 on Friday, hitting $28.70. The stock had a trading volume of 344,736 shares, compared to its average volume of 345,823. The stock has a 50 day moving average of $35.59 and a 200 day moving average of $54.53. The firm has a market capitalization of $275.63 million, a P/E ratio of -1.28 and a beta of 1.49. Nabors Industries Ltd. has a twelve month low of $25.11 and a twelve month high of $105.96. 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 (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 the consensus estimate of ($2.64) by ($4.86). The business had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The company's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted ($4.54) earnings per share. Sell-side analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share 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.