FORA Capital LLC Takes Position in Nabors Industries Ltd. (NYSE:NBR)

FORA Capital LLC purchased a new stake in shares of Nabors Industries Ltd. (NYSE:NBRGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,537 shares of the oil and gas company’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NBR. First Trust Advisors LP bought a new stake in shares of Nabors Industries during the 4th quarter valued at about $7,530,000. Great Lakes Advisors LLC bought a new stake in Nabors Industries in the 1st quarter worth approximately $5,868,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Nabors Industries in the 1st quarter worth approximately $5,696,000. Dimensional Fund Advisors LP increased its stake in Nabors Industries by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 266,120 shares of the oil and gas company’s stock worth $21,580,000 after acquiring an additional 32,973 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Nabors Industries by 203.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,114 shares of the oil and gas company’s stock valued at $3,988,000 after purchasing an additional 17,512 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors.

Nabors Industries Trading Up 7.1 %

Shares of NYSE NBR opened at $132.48 on Friday. Nabors Industries Ltd. has a twelve month low of $72.46 and a twelve month high of $207.67. The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 4.33. The stock has a fifty day simple moving average of $126.35 and a 200-day simple moving average of $143.43. The stock has a market capitalization of $1.39 billion, a PE ratio of -2.13 and a beta of 2.70.

Wall Street Analysts Forecast Growth

NBR has been the topic of several research analyst reports. Susquehanna Bancshares cut their price objective on Nabors Industries from $170.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 8th. Morgan Stanley lowered their price target on Nabors Industries from $150.00 to $125.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 13th. Finally, Susquehanna reduced their price objective on Nabors Industries from $170.00 to $21.00 in a research report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.67.

Nabors Industries Profile

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Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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