Rhumbline Advisers Lowers Holdings in Nabors Industries Ltd. (NYSE:NBR)

Rhumbline Advisers cut its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,840 shares of the oil and gas company’s stock after selling 624 shares during the quarter. Rhumbline Advisers’ holdings in Nabors Industries were worth $1,820,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Nabors Industries during the fourth quarter worth about $70,000. Wellington Management Group LLP purchased a new stake in shares of Nabors Industries during the third quarter worth $220,000. Atom Investors LP purchased a new stake in shares of Nabors Industries during the third quarter worth $332,000. Intech Investment Management LLC raised its position in shares of Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after buying an additional 322 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Nabors Industries by 8.8% during the 4th quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 563 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Stock Performance

Shares of NBR opened at $36.90 on Tuesday. The firm has a market cap of $354.39 million, a PE ratio of -1.65 and a beta of 2.02. The company’s 50 day simple moving average is $55.49 and its 200-day simple moving average is $66.25. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. Nabors Industries Ltd. has a 12-month low of $36.41 and a 12-month high of $105.96.

Nabors Industries (NYSE:NBR) last posted 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 net margin of 5.93% and a negative return on equity of 32.96%. As a group, equities analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.40.

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.