Nabors Industries Ltd. (NYSE:NBR) Position Lifted by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in Nabors Industries Ltd. (NYSE:NBR) by 5.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,780 shares of the oil and gas company’s stock after buying an additional 459 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Nabors Industries were worth $502,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Barclays PLC increased its stake in Nabors Industries by 60.8% during the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after buying an additional 42,483 shares during the period. Inspire Investing LLC grew its position in 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 purchasing an additional 563 shares in the last quarter. R Squared Ltd purchased a new position in Nabors Industries during the fourth quarter valued at approximately $70,000. Entropy Technologies LP lifted its stake in Nabors Industries by 65.5% in the fourth quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company’s stock valued at $880,000 after acquiring an additional 6,095 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Nabors Industries by 41.0% in the fourth quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock valued at $11,580,000 after acquiring an additional 58,946 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Stock Up 0.5%

NBR stock opened at $31.60 on Wednesday. The stock has a market capitalization of $303.49 million, a P/E ratio of -1.41 and a beta of 1.96. 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 $25.11 and a 12 month high of $105.96. The firm has a 50-day moving average price of $34.05 and a 200-day moving average price of $52.20.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.64) by ($4.86). The firm had revenue of $742.78 million for the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.54) EPS. As a group, equities research analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Analyst Ratings Changes

NBR has been the subject of a number of analyst reports. Susquehanna reduced their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Royal Bank of Canada dropped their target price on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Citigroup decreased their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays reduced their target price on shares of 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, Morgan Stanley reduced their price objective on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.17.

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.