Tejara Capital Ltd trimmed its position in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,347 shares of the oil and gas company's stock after selling 9,644 shares during the quarter. Nabors Industries makes up 4.4% of Tejara Capital Ltd's holdings, making the stock its 9th largest position. Tejara Capital Ltd owned about 1.12% of Nabors Industries worth $6,880,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. HighTower Advisors LLC raised its holdings in Nabors Industries by 152.8% in the 4th quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company's stock valued at $1,585,000 after acquiring an additional 16,761 shares during the period. Amundi raised its holdings in Nabors Industries by 192.8% in the 4th quarter. Amundi now owns 7,115 shares of the oil and gas company's stock valued at $443,000 after acquiring an additional 4,685 shares during the period. Proficio Capital Partners LLC bought a new position in Nabors Industries in the 4th quarter valued at about $664,000. US Bancorp DE raised its holdings in 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 acquiring an additional 505 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Nabors Industries by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 43,602 shares of the oil and gas company's stock valued at $2,493,000 after acquiring an additional 1,184 shares during the period. 81.92% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on NBR shares. Barclays lowered their price target 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. Susquehanna lowered their target price on shares of Nabors Industries from $53.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Nabors Industries has an average rating of "Hold" and a consensus price target of $73.00.
Get Our Latest Stock Analysis on NBR
Nabors Industries Stock Performance
Shares of NBR traded down $0.25 during mid-day trading on Friday, hitting $43.53. 2,054,880 shares of the company's stock were exchanged, compared to its average volume of 314,771. Nabors Industries Ltd. has a 52 week low of $34.42 and a 52 week high of $105.96. The stock's 50-day simple moving average is $50.76 and its 200-day simple moving average is $62.71. The firm has a market cap of $418.05 million, a price-to-earnings ratio of -1.95 and a beta of 2.08. 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 earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS 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%. On average, equities research analysts expect that Nabors Industries Ltd. will post -6.22 EPS for the current year.
Nabors Industries Profile
(
Free Report)
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.
Featured Articles
Before you consider Nabors Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nabors Industries wasn't on the list.
While Nabors Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
