American Century Companies Inc. Buys 16,212 Shares of Nabors Industries Ltd. (NYSE:NBR)

American Century Companies Inc. boosted its position in Nabors Industries Ltd. (NYSE:NBR) by 19.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 98,517 shares of the oil and gas company’s stock after purchasing an additional 16,212 shares during the period. American Century Companies Inc. owned about 1.03% of Nabors Industries worth $12,010,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NBR. ProShare Advisors LLC acquired a new stake in Nabors Industries in the 1st quarter valued at about $243,000. Raymond James & Associates acquired a new stake in Nabors Industries during the first quarter worth approximately $213,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Nabors Industries during the first quarter worth approximately $251,000. Bank of New York Mellon Corp lifted its position in Nabors Industries by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 73,869 shares of the oil and gas company’s stock worth $11,281,000 after acquiring an additional 907 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Nabors Industries by 108.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,779 shares of the oil and gas company’s stock worth $576,000 after acquiring an additional 1,967 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NBR has been the subject of several research reports. Susquehanna cut their price objective on shares of Nabors Industries from $110.00 to $91.00 in a research report on Friday, June 2nd. Barclays cut their price objective on shares of Nabors Industries from $150.00 to $140.00 in a research report on Thursday, June 8th. Benchmark upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $160.00 price target on shares of Nabors Industries in a research report on Monday, July 31st. Finally, StockNews.com began coverage on shares of Nabors Industries in a research report on Thursday, August 17th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $145.00.

Nabors Industries Stock Performance

Shares of NYSE:NBR opened at $121.14 on Friday. The company’s 50 day simple moving average is $109.36 and its 200 day simple moving average is $112.86. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -20.64 and a beta of 2.80. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.80 and a quick ratio of 1.52. Nabors Industries Ltd. has a 1 year low of $83.05 and a 1 year high of $190.90.

Nabors Industries (NYSE:NBR) last announced 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). The firm had revenue of $778.81 million during the quarter, compared to the consensus estimate of $777.59 million. Nabors Industries had a negative net margin of 0.96% and a negative return on equity of 17.98%. As a group, research analysts predict that Nabors Industries Ltd. will post -3.48 EPS 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 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.