Canada Pension Plan Investment Board lifted its position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 36.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 37,300 shares of the oil and gas company's stock after buying an additional 10,000 shares during the period. Canada Pension Plan Investment Board owned 0.35% of Nabors Industries worth $2,132,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of NBR. US Bancorp DE lifted its stake in shares of Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock worth $41,000 after purchasing an additional 505 shares during the period. Inspire Investing LLC lifted 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 worth $397,000 after buying an additional 563 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Nabors Industries by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 29,874 shares of the oil and gas company's stock worth $1,708,000 after acquiring an additional 798 shares during the period. Principal Financial Group Inc. grew its holdings in Nabors Industries by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 43,602 shares of the oil and gas company's stock valued at $2,493,000 after purchasing an additional 1,184 shares during the period. Finally, R Squared Ltd acquired a new position in Nabors Industries during the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 81.92% of the company's stock.
Nabors Industries Stock Down 2.5 %
Shares of Nabors Industries stock opened at $27.66 on Thursday. Nabors Industries Ltd. has a twelve month low of $25.11 and a twelve month high of $105.96. The stock has a market cap of $265.63 million, a price-to-earnings ratio of -1.24 and a beta of 1.49. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. The company has a fifty day moving average price of $37.83 and a 200 day moving average price of $56.88.
Nabors Industries (NYSE:NBR - Get Free Report) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing the consensus estimate 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 forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.
Analysts Set New Price Targets
NBR has been the subject of several research reports. Susquehanna lowered their price objective on shares of Nabors Industries from $45.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley lowered their price target 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. Finally, Barclays dropped their price target 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. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $71.17.
Read Our Latest Stock Report on Nabors Industries
Nabors Industries Company Profile
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Free Report)
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.
Further Reading
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