UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 3,456 Shares of Nabors Industries Ltd. (NYSE:NBR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 16.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,723 shares of the oil and gas company’s stock after purchasing an additional 3,456 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.23% of Nabors Industries worth $1,413,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NBR. Two Sigma Advisers LP raised its holdings in Nabors Industries by 169.1% in the 4th quarter. Two Sigma Advisers LP now owns 29,600 shares of the oil and gas company’s stock worth $1,692,000 after acquiring an additional 18,600 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Nabors Industries by 300.7% in the fourth quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company’s stock worth $5,185,000 after purchasing an additional 135,877 shares during the last quarter. Thomist Capital Management LP purchased a new position in shares of Nabors Industries in the fourth quarter worth $1,085,000. Point72 Asset Management L.P. bought a new position in shares of Nabors Industries during the fourth quarter valued at $308,000. Finally, Numerai GP LLC purchased a new stake in shares of Nabors Industries during the fourth quarter valued at $599,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NBR. JPMorgan Chase & Co. decreased their target price on Nabors Industries from $38.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, May 28th. Morgan Stanley decreased their price objective on shares of Nabors Industries from $75.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Royal Bank of Canada dropped their target price on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Susquehanna decreased their target price on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Barclays reissued an “underweight” rating and set a $28.00 price target (down from $53.00) on shares of Nabors Industries in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.86.

Nabors Industries Stock Up 5.6%

NBR opened at $30.09 on Monday. The firm’s 50 day simple moving average is $28.87 and its two-hundred day simple moving average is $45.92. The company has a market capitalization of $472.37 million, a PE ratio of -1.35 and a beta of 1.52. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $105.96. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share 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 analysts’ expectations of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. Nabors Industries’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted ($4.54) earnings per share. As a group, equities analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Nabors Industries Company 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.