GAMMA Investing LLC Has $45,000 Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

GAMMA Investing LLC lifted its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 520.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,073 shares of the oil and gas company’s stock after buying an additional 900 shares during the quarter. GAMMA Investing LLC’s holdings in Nabors Industries were worth $45,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Nabors Industries during the 4th quarter worth about $36,000. US Bancorp DE lifted its stake 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 last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries during the 4th quarter worth about $97,000. DRW Securities LLC acquired a new stake in Nabors Industries in the 4th quarter worth about $234,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Nabors Industries in the 4th quarter worth about $284,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NBR shares. Royal Bank Of Canada dropped 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 research note on Thursday, May 1st. Citigroup dropped their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Barclays reiterated an “underweight” rating and issued a $28.00 price objective (down previously from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Morgan Stanley dropped their price objective on shares of Nabors Industries from $75.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nabors Industries from $38.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, May 28th. Two research 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. According to MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and an average target price of $43.29.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $34.69 on Friday. The firm has a 50 day moving average of $29.87 and a 200-day moving average of $40.42. The stock has a market capitalization of $544.55 million, a PE ratio of -2.22 and a beta of 1.52. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 4.13. Nabors Industries Ltd. has a 12 month low of $23.27 and a 12 month high of $105.96.

Nabors Industries (NYSE:NBR) last issued 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). The firm had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative net margin of 3.66% and a negative return on equity of 38.71%. Nabors Industries’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($4.54) earnings per share. On average, equities research analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

About Nabors Industries

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.