ExodusPoint Capital Management LP Purchases Shares of 24,285 Nabors Industries Ltd. (NYSE:NBR)

ExodusPoint Capital Management LP bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,285 shares of the oil and gas company's stock, valued at approximately $1,388,000. ExodusPoint Capital Management LP owned about 0.23% of Nabors Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Nabors Industries by 10.6% in the 3rd quarter. FMR LLC now owns 51,794 shares of the oil and gas company's stock valued at $3,339,000 after purchasing an additional 4,949 shares during the period. Wellington Management Group LLP bought a new stake in Nabors Industries during the 3rd quarter valued at $220,000. Barclays PLC lifted its holdings in shares of Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock worth $7,241,000 after buying an additional 42,483 shares in the last quarter. Geode Capital Management LLC boosted its stake in Nabors Industries by 1.5% during the third quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company's stock valued at $13,286,000 after buying an additional 3,054 shares during the period. Finally, Inspire Investing LLC grew its stake in Nabors Industries by 8.8% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Stock Performance

Shares of NYSE NBR traded up $0.48 during trading on Tuesday, reaching $29.08. 62,107 shares of the company traded hands, compared to its average volume of 338,771. Nabors Industries Ltd. has a 52-week low of $25.11 and a 52-week high of $105.96. The firm has a 50 day simple moving average of $41.10 and a 200-day simple moving average of $58.80. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The stock has a market capitalization of $279.32 million, a PE ratio of -1.30 and a beta of 1.49.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings results 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 year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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 report on Wednesday, February 19th. Morgan Stanley cut their price objective on Nabors Industries from $115.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Susquehanna lowered their price target on shares of Nabors Industries from $45.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday. Six investment 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 presently has an average rating of "Hold" and a consensus price target of $71.17.

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.