Rhumbline Advisers Sells 10,775 Shares of Nabors Industries Ltd. (NYSE:NBR)

Rhumbline Advisers trimmed its holdings in Nabors Industries Ltd. (NYSE:NBR) by 33.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,065 shares of the oil and gas company’s stock after selling 10,775 shares during the period. Rhumbline Advisers owned 0.22% of Nabors Industries worth $879,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Nabors Industries by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company’s stock worth $299,000 after buying an additional 228 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Nabors Industries by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company’s stock worth $502,000 after buying an additional 459 shares during the period. US Bancorp DE boosted its holdings in shares of 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 buying an additional 505 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Nabors Industries during the 4th quarter worth $36,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Nabors Industries by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 29,874 shares of the oil and gas company’s stock worth $1,708,000 after buying an additional 798 shares during the period. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

NBR has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of 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 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. JPMorgan Chase & Co. decreased their price objective on shares of Nabors Industries from $38.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, May 28th. Citigroup decreased their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Finally, Barclays reiterated an “underweight” rating and set a $28.00 target price (down from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.86.

Nabors Industries Price Performance

NYSE:NBR opened at $32.63 on Friday. The stock has a market cap of $512.23 million, a P/E ratio of -2.09 and a beta of 1.52. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $105.96. The company has a fifty day moving average price of $29.35 and a 200 day moving average price of $43.55. The company has a debt-to-equity ratio of 4.13, a current ratio of 1.80 and a quick ratio of 1.62.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) EPS for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 3.66% and a negative return on equity of 38.71%. The company had revenue of $742.78 million for the quarter, compared to analyst estimates of $706.49 million. During the same quarter in the previous year, the company earned ($4.54) earnings per share. Nabors Industries’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share 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.