SG Americas Securities LLC Acquires Shares of 7,468 Nabors Industries Ltd. (NYSE:NBR)

SG Americas Securities LLC bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBRFree Report) during the fourth quarter, HoldingsChannel.com reports. The fund bought 7,468 shares of the oil and gas company’s stock, valued at approximately $610,000.

A number of other hedge funds have also recently modified their holdings of NBR. ProShare Advisors LLC bought a new position in shares of Nabors Industries during the first quarter valued at approximately $243,000. Raymond James & Associates bought a new position in shares of Nabors Industries during the first quarter valued at approximately $213,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Nabors Industries during the first quarter valued at approximately $251,000. Bank of New York Mellon Corp grew its stake in shares of 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 valued at $11,281,000 after buying an additional 907 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of 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 valued at $576,000 after buying an additional 1,967 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Up 2.5 %

Shares of NYSE NBR opened at $90.34 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63. The stock has a market capitalization of $855.52 million, a PE ratio of -17.51 and a beta of 2.33. The stock’s fifty day simple moving average is $83.64 and its two-hundred day simple moving average is $91.90. Nabors Industries Ltd. has a 12-month low of $71.42 and a 12-month high of $141.47.

Nabors Industries (NYSE:NBRGet Free Report) last announced its earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($2.30). The company had revenue of $737.84 million for the quarter, compared to the consensus estimate of $749.52 million. Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. As a group, analysts expect that Nabors Industries Ltd. will post -4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NBR has been the topic of several research analyst reports. StockNews.com cut Nabors Industries from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Atb Cap Markets cut Nabors Industries from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 22nd. Susquehanna reissued a “neutral” rating and issued a $88.00 price objective on shares of Nabors Industries in a research note on Tuesday, February 13th. Benchmark cut Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Morgan Stanley dropped their price objective on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $129.60.

Read Our Latest Research Report on Nabors Industries

Nabors Industries Profile

(Free Report)

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.

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

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