PNC Financial Services Group Inc. Sells 464 Shares of Nabors Industries Ltd. (NYSE:NBR)

PNC Financial Services Group Inc. cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 9.6% in the fourth quarter, Holdings Channel reports. The fund owned 4,392 shares of the oil and gas company’s stock after selling 464 shares during the period. PNC Financial Services Group Inc.’s holdings in Nabors Industries were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBR. Intech Investment Management LLC increased its stake 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 in the last quarter. FMR LLC increased its stake in shares of Nabors Industries by 10.6% in the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock valued at $3,339,000 after buying an additional 4,949 shares in the last quarter. PDT Partners LLC increased its stake in shares of Nabors Industries by 49.7% in the third quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock valued at $3,008,000 after buying an additional 15,494 shares in the last quarter. Atom Investors LP acquired a new stake in shares of Nabors Industries in the third quarter valued at $332,000. Finally, Centiva Capital LP acquired a new stake in shares of Nabors Industries in the third quarter valued at $531,000. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays lowered their target price on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Susquehanna lowered their price objective on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Nabors Industries Trading Down 0.6 %

NYSE:NBR opened at $43.53 on Friday. Nabors Industries Ltd. has a fifty-two week low of $34.42 and a fifty-two week high of $105.96. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The stock has a market capitalization of $418.05 million, a PE ratio of -1.95 and a beta of 2.08. The business’s 50-day simple moving average is $50.76 and its 200-day simple moving average is $62.65.

Nabors Industries (NYSE:NBR) last released its earnings results 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%. 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.