Vanguard Group Inc. Acquires 18,017 Shares of Nabors Industries Ltd. (NYSE:NBR)

Vanguard Group Inc. grew its holdings in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 696,155 shares of the oil and gas company's stock after acquiring an additional 18,017 shares during the quarter. Vanguard Group Inc. owned 6.50% of Nabors Industries worth $39,799,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its position in Nabors Industries by 234.9% during the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after buying an additional 505 shares during the period. R Squared Ltd bought a new stake in Nabors Industries during the 4th quarter valued at $70,000. KLP Kapitalforvaltning AS purchased a new position in shares of Nabors Industries in the fourth quarter valued at about $97,000. Wellington Management Group LLP purchased a new stake in Nabors Industries in the 3rd quarter worth approximately $220,000. Finally, Inspire Investing LLC raised its holdings in shares of Nabors Industries by 8.8% during the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company's stock valued at $397,000 after acquiring an additional 563 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NBR has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Nabors Industries from $115.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Barclays reduced their price target 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. Finally, Susquehanna lowered their price objective on Nabors Industries from $45.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday. Six 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 company has a consensus rating of "Hold" and a consensus price target of $71.17.

Nabors Industries Stock Up 4.7 %

Shares of NYSE NBR traded up $1.34 during midday trading on Thursday, hitting $30.11. The stock had a trading volume of 46,181 shares, compared to its average volume of 339,004. The company has a market cap of $289.19 million, a P/E ratio of -1.34 and a beta of 1.49. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The business's 50 day moving average is $40.12 and its 200-day moving average is $58.38. Nabors Industries Ltd. has a 52 week low of $25.11 and a 52 week high of $105.96.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. As a group, analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current year.

About Nabors Industries

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.