JPMorgan Chase & Co. Has $1.67 Million Stake in Nabors Industries Ltd. (NYSE:NBR)

JPMorgan Chase & Co. lessened its stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 34.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,147 shares of the oil and gas company's stock after selling 15,546 shares during the quarter. JPMorgan Chase & Co. owned 0.27% of Nabors Industries worth $1,666,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NBR. US Bancorp DE lifted its holdings in shares of Nabors Industries by 234.9% during 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 during the period. R Squared Ltd bought a new position in Nabors Industries during the 4th quarter valued at about $70,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries during the fourth quarter worth approximately $97,000. Inspire Investing LLC boosted its holdings in shares of 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 acquiring an additional 563 shares in the last quarter. Finally, Amundi increased its stake in shares of Nabors Industries by 192.8% in the fourth quarter. Amundi now owns 7,115 shares of the oil and gas company's stock valued at $443,000 after buying an additional 4,685 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NBR. Morgan Stanley decreased their target price 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. 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 decreased their price target on shares of Nabors Industries from $45.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $71.17.

Nabors Industries Stock Down 2.3 %

Shares of Nabors Industries stock traded down $0.68 during trading hours on Tuesday, reaching $28.71. 251,824 shares of the company's stock were exchanged, compared to its average volume of 341,447. 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 50 day moving average of $36.85 and a two-hundred day moving average of $55.58. The stock has a market cap of $275.73 million, a P/E ratio of -1.28 and a beta of 1.49. Nabors Industries Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $105.96.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.15) by ($5.35). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. On average, sell-side analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Nabors Industries 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.