GAMMA Investing LLC Makes New Investment in Nabors Industries Ltd. (NYSE:NBR)

GAMMA Investing LLC bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) in the 4th quarter, HoldingsChannel.com reports. The fund bought 1,142 shares of the oil and gas company’s stock, valued at approximately $97,000.

Other large investors have also recently made changes to their positions in the company. Sippican Capital Advisors acquired a new stake in Nabors Industries during the third quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 635 shares during the period. Axxcess Wealth Management LLC purchased a new position in shares of Nabors Industries in the 3rd quarter valued at about $241,000. Fox Run Management L.L.C. acquired a new position in Nabors Industries in the 3rd quarter worth about $261,000. Finally, Hsbc Holdings PLC purchased a new position in Nabors Industries during the third quarter worth approximately $355,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Susquehanna reduced their target price on Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday. Benchmark restated a “hold” rating on shares of Nabors Industries in a research report on Thursday. Finally, Morgan Stanley dropped their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.80.

Nabors Industries Price Performance

Shares of NYSE NBR opened at $77.20 on Monday. The firm has a 50-day simple moving average of $83.14 and a 200-day simple moving average of $86.88. The company has a quick ratio of 1.23, a current ratio of 1.78 and a debt-to-equity ratio of 4.81. The stock has a market capitalization of $731.08 million, a price-to-earnings ratio of -5.59 and a beta of 2.33. Nabors Industries Ltd. has a 52 week low of $71.42 and a 52 week high of $141.47.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The business had revenue of $743.91 million for the quarter, compared to analysts’ expectations of $730.59 million. On average, equities analysts predict that Nabors Industries Ltd. will post -5.56 earnings per share for the current fiscal year.

Nabors Industries 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 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.