Swiss National Bank Sells 800 Shares of Nabors Industries Ltd. (NYSE:NBR)

Swiss National Bank lowered its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 4.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,900 shares of the oil and gas company’s stock after selling 800 shares during the quarter. Swiss National Bank’s holdings in Nabors Industries were worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of NBR. Van ECK Associates Corp lifted its holdings in shares of Nabors Industries by 41.0% during the 4th quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock worth $11,580,000 after acquiring an additional 58,946 shares during the period. Barclays PLC raised its position in Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after purchasing an additional 42,483 shares in the last quarter. 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 period. PDT Partners LLC boosted its holdings in Nabors Industries by 49.7% during 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 purchasing an additional 15,494 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Nabors Industries in the 4th quarter valued at approximately $664,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

Nabors Industries stock opened at $41.70 on Friday. The stock has a 50-day simple moving average of $48.47 and a 200 day simple moving average of $61.81. The stock has a market capitalization of $400.45 million, a price-to-earnings ratio of -1.86 and a beta of 2.08. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. Nabors Industries Ltd. has a 12-month low of $34.42 and a 12-month high of $105.96.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on NBR. Barclays dropped their price objective 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. 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 research report on Thursday. Finally, Susquehanna reduced their price target on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and an average target price of $73.33.

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.