HighTower Advisors LLC Grows Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

HighTower Advisors LLC boosted its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 152.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,727 shares of the oil and gas company's stock after acquiring an additional 16,761 shares during the period. HighTower Advisors LLC owned 0.26% of Nabors Industries worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in shares of Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after acquiring an additional 505 shares in the last quarter. R Squared Ltd acquired a new position in Nabors Industries in the 4th quarter valued at about $70,000. Wellington Management Group LLP acquired a new position in Nabors Industries in the 3rd quarter valued at about $220,000. Atom Investors LP purchased a new position in Nabors Industries in the 3rd quarter valued at about $332,000. Finally, Intech Investment Management LLC boosted its stake in shares of Nabors Industries by 6.4% during the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company's stock worth $346,000 after purchasing an additional 322 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Trading Down 3.1 %

Shares of NBR traded down $1.35 during mid-day trading on Friday, hitting $41.70. The company had a trading volume of 233,184 shares, compared to its average volume of 324,328. The stock has a market cap of $400.45 million, a PE ratio of -1.86 and a beta of 2.08. The business's 50-day simple moving average is $48.97 and its 200-day simple moving average is $62.02. Nabors Industries Ltd. has a 1-year low of $34.42 and a 1-year high of $105.96. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

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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%. Sell-side analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NBR. Morgan Stanley cut their price objective on shares of Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday. Barclays lowered their target price on shares of 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, Susquehanna reduced their price target on Nabors Industries from $53.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nabors Industries has a consensus rating of "Hold" and a consensus price target of $73.33.

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.