Nisa Investment Advisors LLC Trims Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Nisa Investment Advisors LLC trimmed its holdings in Nabors Industries Ltd. (NYSE:NBR) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,507 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Nabors Industries were worth $1,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pantechnicon Advisors LLP purchased a new stake in shares of Nabors Industries in the third quarter worth approximately $15,392,000. Panagora Asset Management Inc. bought a new position in Nabors Industries in the third quarter worth approximately $2,673,000. American Century Companies Inc. grew its stake in Nabors Industries by 11.0% in the third quarter. American Century Companies Inc. now owns 115,486 shares of the oil and gas company’s stock worth $14,221,000 after purchasing an additional 11,425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nabors Industries by 48.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 635 shares in the last quarter. Finally, Barclays PLC grew its stake in Nabors Industries by 9.9% in the third quarter. Barclays PLC now owns 5,626 shares of the oil and gas company’s stock worth $692,000 after purchasing an additional 509 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Stock Down 2.4 %

Shares of NYSE NBR opened at $79.39 on Monday. 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 $751.82 million, a PE ratio of -15.39 and a beta of 2.33. The stock’s fifty day simple moving average is $83.65 and its two-hundred day simple moving average is $89.53. Nabors Industries Ltd. has a 12-month low of $71.42 and a 12-month high of $141.47.

Nabors Industries (NYSE:NBR) 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 -4.32 EPS for the current fiscal year.

Analysts Set New Price Targets

NBR has been the topic of several research analyst reports. Susquehanna reissued a “neutral” rating and issued a $88.00 price objective on shares of Nabors Industries in a research note on Monday, April 8th. 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. Benchmark cut Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Atb Cap Markets cut Nabors Industries from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $129.60.

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.