UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.37 Million Stock Position in Nabors Industries Ltd. (NYSE:NBR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 44.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,267 shares of the oil and gas company's stock after selling 17,362 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of Nabors Industries worth $1,371,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Nabors Industries by 10.6% during the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company's stock valued at $3,339,000 after acquiring an additional 4,949 shares during the period. Intech Investment Management LLC increased its position 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 in the last quarter. Entropy Technologies LP bought a new position in Nabors Industries during the 3rd quarter valued at about $600,000. Signaturefd LLC boosted its position in Nabors Industries by 52.9% in the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company's stock valued at $88,000 after buying an additional 472 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Nabors Industries during the third quarter worth about $45,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Trading Down 6.2 %

NBR stock traded down $3.73 during midday trading on Wednesday, reaching $56.12. The stock had a trading volume of 500,296 shares, compared to its average volume of 287,755. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. Nabors Industries Ltd. has a twelve month low of $55.45 and a twelve month high of $105.96. The firm has a market cap of $600.99 million, a price-to-earnings ratio of -3.05 and a beta of 2.05. The business has a fifty day simple moving average of $73.17 and a two-hundred day simple moving average of $74.21.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NBR. Royal Bank of Canada reissued a "sector perform" rating and issued a $102.00 target price on shares of Nabors Industries in a report on Wednesday, October 16th. Barclays reduced their price objective on Nabors Industries from $110.00 to $88.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 16th. Citigroup raised their target price on Nabors Industries from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Susquehanna reduced their price target on shares of Nabors Industries from $79.00 to $77.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Finally, Evercore ISI lowered their price objective on shares of Nabors Industries from $94.00 to $85.00 and set an "in-line" rating for the company in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $97.00.

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.