Nabors Industries Ltd. (NYSE:NBR) Short Interest Update

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,150,000 shares, a decline of 18.4% from the December 31st total of 1,410,000 shares. Approximately 13.7% of the shares of the company are sold short. Based on an average daily volume of 326,600 shares, the days-to-cover ratio is presently 3.5 days.

Nabors Industries Trading Up 0.5 %

NBR traded up $0.32 on Wednesday, hitting $58.88. The company had a trading volume of 206,253 shares, compared to its average volume of 248,514. The business's fifty day simple moving average is $62.52 and its 200 day simple moving average is $71.66. 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 has a 12-month low of $50.15 and a 12-month high of $105.96. The company has a market cap of $630.57 million, a PE ratio of -3.20 and a beta of 2.02.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently modified their holdings of NBR. Dimensional Fund Advisors LP grew its holdings in shares of Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company's stock worth $20,634,000 after purchasing an additional 16,890 shares during the last quarter. Geode Capital Management LLC grew its stake in Nabors Industries by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company's stock worth $13,286,000 after acquiring an additional 3,054 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Nabors Industries by 41.0% during the fourth quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company's stock worth $11,580,000 after acquiring an additional 58,946 shares during the period. Barclays PLC raised its position in Nabors Industries by 60.8% during the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock valued at $7,241,000 after purchasing an additional 42,483 shares in the last quarter. Finally, FMR LLC increased its stake 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 buying an additional 4,949 shares during the period. Institutional investors own 81.92% of the company's stock.

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.