Mitsubishi UFJ Trust & Banking Corp Makes New $32,000 Investment in Nabors Industries Ltd. (NYSE:NBR)

Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 259 shares of the oil and gas company’s stock, valued at approximately $32,000.

Several other large investors also recently modified their holdings of the stock. Arizona State Retirement System increased its stake in shares of Nabors Industries by 3.9% during the 4th quarter. Arizona State Retirement System now owns 2,524 shares of the oil and gas company’s stock worth $391,000 after purchasing an additional 94 shares during the last quarter. Eaton Vance Management increased its stake in shares of Nabors Industries by 2.2% during the 1st quarter. Eaton Vance Management now owns 4,437 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 97 shares during the last quarter. US Bancorp DE increased its stake in shares of Nabors Industries by 165.9% during the 1st quarter. US Bancorp DE now owns 226 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 141 shares during the last quarter. State of Wyoming increased its stake in shares of Nabors Industries by 55.6% during the 4th quarter. State of Wyoming now owns 585 shares of the oil and gas company’s stock worth $91,000 after purchasing an additional 209 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Nabors Industries by 43.1% during the 3rd quarter. Royal Bank of Canada now owns 793 shares of the oil and gas company’s stock worth $80,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.

Nabors Industries Stock Performance

NYSE NBR opened at $108.46 on Friday. Nabors Industries Ltd. has a 52-week low of $83.05 and a 52-week high of $190.90. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.52 and a current ratio of 1.80. The company has a market capitalization of $1.03 billion, a P/E ratio of -18.48 and a beta of 2.80. The company has a fifty day moving average of $107.85 and a 200-day moving average of $114.64.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported ($2.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($3.76). Nabors Industries had a negative return on equity of 17.98% and a negative net margin of 0.96%. The company had revenue of $778.81 million for the quarter, compared to the consensus estimate of $777.59 million. As a group, equities research analysts predict that Nabors Industries Ltd. will post -3.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NBR. Royal Bank of Canada raised their price target on shares of Nabors Industries from $124.00 to $140.00 in a research note on Thursday, July 27th. StockNews.com started coverage on shares of Nabors Industries in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Susquehanna reduced their price objective on shares of Nabors Industries from $110.00 to $91.00 in a research note on Friday, June 2nd. Benchmark upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Citigroup reduced their price objective on shares of Nabors Industries from $200.00 to $140.00 in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $145.00.

Nabors Industries Company Profile

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 U.S. 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.