Van ECK Associates Corp Grows Stake in Nabors Industries Ltd. (NYSE:NBR)

Van ECK Associates Corp lifted its position in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 41.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,552 shares of the oil and gas company's stock after acquiring an additional 58,946 shares during the period. Van ECK Associates Corp owned 1.89% of Nabors Industries worth $11,580,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NBR. Barclays PLC raised its position in shares of Nabors Industries by 60.8% in the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock worth $7,241,000 after acquiring an additional 42,483 shares in the last quarter. PDT Partners LLC raised its position in shares of Nabors Industries by 49.7% in the 3rd quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company's stock worth $3,008,000 after acquiring an additional 15,494 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Nabors Industries in the 3rd quarter worth approximately $600,000. Centiva Capital LP bought a new position in shares of Nabors Industries in the 3rd quarter worth approximately $531,000. Finally, Atom Investors LP bought a new position in shares of Nabors Industries in the 3rd quarter worth approximately $332,000. Institutional investors own 81.92% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on NBR shares. Susquehanna cut their price target on Nabors Industries from $79.00 to $77.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. Evercore ISI cut their price target on 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. Citigroup upped their price target on Nabors Industries from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Barclays cut their price target on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $79.40.

Nabors Industries Stock Down 3.7 %

NBR traded down $1.69 during trading on Wednesday, hitting $44.39. 370,625 shares of the company's stock traded hands, compared to its average volume of 312,677. The company's 50 day simple moving average is $58.76 and its two-hundred day simple moving average is $68.76. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. Nabors Industries Ltd. has a 12-month low of $44.00 and a 12-month high of $105.96. The stock has a market capitalization of $426.11 million, a price-to-earnings ratio of -1.99 and a beta of 2.02.

Nabors Industries (NYSE:NBR - Get Free Report) last issued 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 net margin of 5.93% and a negative return on equity of 32.96%. Analysts predict that Nabors Industries Ltd. will post -3.91 earnings per share for the current fiscal year.

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.