Tower Research Capital LLC TRC Sells 3,870 Shares of Nabors Industries Ltd. (NYSE:NBR)

Tower Research Capital LLC TRC cut its holdings in Nabors Industries Ltd. (NYSE:NBR) by 88.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 510 shares of the oil and gas company’s stock after selling 3,870 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Nabors Industries were worth $29,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Nabors Industries by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company’s stock worth $16,556,000 after purchasing an additional 27,849 shares during the period. Canada Pension Plan Investment Board grew its stake in Nabors Industries by 36.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 37,300 shares of the oil and gas company’s stock worth $2,132,000 after purchasing an additional 10,000 shares during the period. Marshall Wace LLP bought a new stake in Nabors Industries in the 4th quarter valued at about $1,042,000. Jump Financial LLC increased its position in shares of Nabors Industries by 142.5% during the fourth quarter. Jump Financial LLC now owns 24,253 shares of the oil and gas company’s stock worth $1,387,000 after acquiring an additional 14,253 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Nabors Industries by 74.6% during the 4th quarter. Barclays PLC now owns 196,108 shares of the oil and gas company’s stock worth $11,211,000 after acquiring an additional 83,790 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

NBR has been the topic of several research reports. Royal Bank of Canada lowered their price target on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Susquehanna decreased their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Barclays dropped their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Citigroup reduced their price target on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.17.

Nabors Industries Stock Down 5.4%

NBR stock opened at $30.69 on Friday. Nabors Industries Ltd. has a 12 month low of $25.11 and a 12 month high of $105.96. The company has a market cap of $294.75 million, a price-to-earnings ratio of -1.37 and a beta of 1.96. The firm has a 50-day moving average of $33.72 and a two-hundred day moving average of $51.77. 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 (NYSE:NBR) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) EPS for the quarter, missing analysts’ consensus estimates of ($2.64) by ($4.86). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The company had revenue of $742.78 million for the quarter, compared to analyst estimates of $706.49 million. During the same period in the prior year, the firm posted ($4.54) earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Nabors Industries Company 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.