Miller Value Partners LLC Increases Stake in Nabors Industries Ltd. (NYSE:NBR)

Miller Value Partners LLC lifted its position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 99.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,195 shares of the oil and gas company's stock after purchasing an additional 140,230 shares during the period. Nabors Industries accounts for approximately 6.9% of Miller Value Partners LLC's investment portfolio, making the stock its 3rd biggest holding. Miller Value Partners LLC owned approximately 2.63% of Nabors Industries worth $16,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. US Bancorp DE boosted its holdings in shares of Nabors Industries by 234.9% in the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after purchasing an additional 505 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Nabors Industries during the 4th quarter valued at $70,000. KLP Kapitalforvaltning AS acquired a new position in Nabors Industries during the 4th quarter worth about $97,000. DRW Securities LLC acquired a new position in Nabors Industries during the 4th quarter worth about $234,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Nabors Industries during the 4th quarter worth about $284,000. Institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Performance

NBR traded down $0.44 during trading hours on Monday, hitting $29.39. The stock had a trading volume of 236,267 shares, compared to its average volume of 341,805. The company's fifty day simple moving average is $36.85 and its 200 day simple moving average is $55.58. Nabors Industries Ltd. has a 1 year low of $25.11 and a 1 year high of $105.96. The stock has a market cap of $282.26 million, a PE ratio of -1.31 and a beta of 1.49. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings data 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 analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on Nabors Industries from $115.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Barclays cut their target price on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, Susquehanna dropped their price objective on Nabors Industries from $45.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.