4,300 Shares in Nabors Industries Ltd. (NYSE:NBR) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of Nabors Industries Ltd. (NYSE:NBRGet Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,300 shares of the oil and gas company’s stock, valued at approximately $436,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wolverine Asset Management LLC lifted its position in Nabors Industries by 5.0% during the second quarter. Wolverine Asset Management LLC now owns 6,250 shares of the oil and gas company’s stock valued at $836,000 after buying an additional 300 shares during the period. Comerica Bank lifted its position in Nabors Industries by 15.6% during the second quarter. Comerica Bank now owns 7,527 shares of the oil and gas company’s stock valued at $890,000 after buying an additional 1,015 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Nabors Industries by 19.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,185 shares of the oil and gas company’s stock valued at $4,176,000 after buying an additional 5,071 shares during the period. Principal Financial Group Inc. lifted its position in Nabors Industries by 8.4% during the second quarter. Principal Financial Group Inc. now owns 55,430 shares of the oil and gas company’s stock valued at $7,423,000 after buying an additional 4,295 shares during the period. Finally, Hussman Strategic Advisors Inc. lifted its position in Nabors Industries by 74.4% during the second quarter. Hussman Strategic Advisors Inc. now owns 70,800 shares of the oil and gas company’s stock valued at $9,480,000 after buying an additional 30,200 shares during the period. Hedge funds and other institutional investors own 71.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com lowered Nabors Industries from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th. Susquehanna lifted their price target on Nabors Industries from $125.00 to $189.00 in a research report on Thursday, October 27th. JPMorgan Chase & Co. lifted their price target on Nabors Industries from $138.00 to $155.00 and gave the stock an “underweight” rating in a research report on Thursday, November 3rd. Morgan Stanley lifted their price target on Nabors Industries from $140.00 to $175.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 4th. Finally, Barclays raised Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $200.00 price target for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and an average price target of $170.50.

Nabors Industries Trading Up 4.8 %

Nabors Industries stock opened at $161.13 on Wednesday. The business has a 50-day simple moving average of $156.10 and a two-hundred day simple moving average of $136.87. The company has a market cap of $1.52 billion, a P/E ratio of -3.33 and a beta of 2.79. Nabors Industries Ltd. has a 52-week low of $91.58 and a 52-week high of $207.67. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 4.34.

Nabors Industries (NYSE:NBRGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The oil and gas company reported ($5.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.71) by ($1.83). The firm had revenue of $698.95 million for the quarter, compared to the consensus estimate of $679.20 million. Nabors Industries had a negative net margin of 16.16% and a negative return on equity of 51.63%. Analysts predict that Nabors Industries Ltd. will post -26.65 EPS for the current year.

Nabors Industries Profile

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Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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