Centiva Capital LP Buys New Shares in Nabors Industries Ltd. (NYSE:NBR)

Centiva Capital LP acquired a new stake in Nabors Industries Ltd. (NYSE:NBR - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 8,240 shares of the oil and gas company's stock, valued at approximately $531,000. Centiva Capital LP owned about 0.09% of Nabors Industries as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NBR. nVerses Capital LLC acquired a new position in Nabors Industries in the third quarter valued at approximately $45,000. Signaturefd LLC raised its position in shares of Nabors Industries by 52.9% during the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company's stock valued at $88,000 after acquiring an additional 472 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Nabors Industries in the 2nd quarter valued at $159,000. The Manufacturers Life Insurance Company boosted its position in shares of Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company's stock worth $254,000 after purchasing an additional 181 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Nabors Industries by 14.5% during the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company's stock worth $338,000 after purchasing an additional 601 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NBR. Royal Bank of Canada reissued a "sector perform" rating and issued a $102.00 target price on shares of Nabors Industries in a research note on Wednesday, October 16th. Citigroup lifted their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Barclays lowered their target price on shares of Nabors Industries from $110.00 to $88.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 16th. Susquehanna decreased their price target on shares of Nabors Industries from $79.00 to $77.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Finally, Evercore ISI reduced their target price on Nabors Industries from $94.00 to $85.00 and set an "in-line" rating on the stock in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $97.00.

Nabors Industries Stock Down 4.6 %

NBR stock traded down $3.22 during trading hours on Friday, reaching $66.67. 436,987 shares of the stock were exchanged, compared to its average volume of 296,890. The firm's 50-day moving average is $74.79 and its 200-day moving average is $74.73. Nabors Industries Ltd. has a 12 month low of $59.67 and a 12 month high of $105.96. The company has a market cap of $636.70 million, a price-to-earnings ratio of -3.63 and a beta of 2.05. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63.

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.