Nabors Industries Ltd. (NYSE:NBR) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,102 shares of the oil and gas company’s stock after acquiring an additional 4,838 shares during the period. Bank of America Corp DE owned approximately 0.41% of Nabors Industries worth $2,521,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. US Bancorp DE boosted its position in Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 505 shares during the period. KLP Kapitalforvaltning AS bought a new position in Nabors Industries in the 4th quarter worth approximately $97,000. DRW Securities LLC bought a new position in Nabors Industries in the 4th quarter worth approximately $234,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nabors Industries during the fourth quarter valued at approximately $284,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Nabors Industries during the fourth quarter valued at approximately $313,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NBR. Susquehanna decreased their price target on Nabors Industries from $32.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Citigroup dropped their price objective on Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada lowered their price target on Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating for the company in a report on Thursday, May 1st. Morgan Stanley reduced their price objective on Nabors Industries from $75.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Finally, Barclays reiterated an “underweight” rating and set a $28.00 price objective (down previously from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.86.

Nabors Industries Stock Performance

Shares of NYSE NBR opened at $25.87 on Monday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The stock’s fifty day moving average price is $30.24 and its two-hundred day moving average price is $47.47. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $105.96. The firm has a market cap of $406.16 million, a price-to-earnings ratio of -1.16 and a beta of 1.96.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The company had revenue of $742.78 million for the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the company posted ($4.54) earnings per share. On average, equities analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current 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.