Barclays PLC Purchases 83,790 Shares of Nabors Industries Ltd. (NYSE:NBR)

Barclays PLC boosted its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 74.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,108 shares of the oil and gas company’s stock after purchasing an additional 83,790 shares during the quarter. Barclays PLC owned about 1.83% of Nabors Industries worth $11,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NBR. DRW Securities LLC bought a new position in Nabors Industries in the fourth quarter valued at approximately $234,000. Federated Hermes Inc. increased its holdings in Nabors Industries by 2.7% in the fourth quarter. Federated Hermes Inc. now owns 29,874 shares of the oil and gas company’s stock valued at $1,708,000 after purchasing an additional 798 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Nabors Industries during the fourth quarter worth about $284,000. Wells Fargo & Company MN grew its position in shares of Nabors Industries by 6.4% during the 4th quarter. Wells Fargo & Company MN now owns 30,339 shares of the oil and gas company’s stock worth $1,734,000 after buying an additional 1,834 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Nabors Industries in the 4th quarter valued at about $1,388,000. Institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Susquehanna cut their target price on shares of Nabors Industries from $45.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Barclays decreased 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. Finally, Morgan Stanley decreased their price objective on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.17.

Nabors Industries Price Performance

NYSE NBR opened at $28.24 on Tuesday. Nabors Industries Ltd. has a 12-month low of $25.11 and a 12-month high of $105.96. The firm’s 50 day moving average is $38.65 and its 200-day moving average is $57.28. The company has a market capitalization of $271.22 million, a PE ratio of -1.26 and a beta of 1.49. 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 (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 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%. Equities research analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

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.