Alliancebernstein L.P. Has $484,000 Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Alliancebernstein L.P. cut its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,460 shares of the oil and gas company’s stock after selling 1,101 shares during the period. Alliancebernstein L.P. owned approximately 0.08% of Nabors Industries worth $484,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Nabors Industries in the fourth quarter valued at about $313,000. Vanguard Group Inc. lifted its stake in Nabors Industries by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 696,155 shares of the oil and gas company’s stock worth $39,799,000 after purchasing an additional 18,017 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries in the 4th quarter valued at approximately $97,000. American Century Companies Inc. grew its stake in shares of Nabors Industries by 12.0% during the fourth quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company’s stock worth $16,340,000 after buying an additional 30,537 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Nabors Industries by 152.8% during the fourth quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company’s stock worth $1,585,000 after purchasing an additional 16,761 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NBR. Susquehanna lowered their price target on shares of Nabors Industries from $45.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Barclays reduced their target price on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley dropped their price target on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and a consensus target price of $71.17.

Nabors Industries Stock Up 7.4 %

Shares of NYSE:NBR opened at $30.89 on Monday. The firm has a market capitalization of $296.65 million, a PE ratio of -1.38 and a beta of 1.49. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. Nabors Industries Ltd. has a 52-week low of $25.11 and a 52-week high of $105.96. The firm has a fifty day moving average of $39.15 and a 200 day moving average of $57.65.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. As a group, research analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS 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.