Nabors Industries Ltd. $NBR Shares Acquired by Apollo Management Holdings L.P.

Apollo Management Holdings L.P. lifted its holdings in Nabors Industries Ltd. (NYSE:NBR) by 54.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,623 shares of the oil and gas company’s stock after purchasing an additional 228,787 shares during the period. Nabors Industries comprises 0.2% of Apollo Management Holdings L.P.’s holdings, making the stock its 21st biggest holding. Apollo Management Holdings L.P. owned about 4.13% of Nabors Industries worth $18,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NBR. Nebula Research & Development LLC grew its position in Nabors Industries by 2.5% in the second quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company’s stock worth $496,000 after buying an additional 428 shares during the last quarter. State of Wyoming lifted its position in shares of Nabors Industries by 20.5% during the 1st quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 500 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Nabors Industries by 58.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 533 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Nabors Industries by 11.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock worth $231,000 after acquiring an additional 570 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Nabors Industries by 47.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock worth $91,000 after purchasing an additional 1,044 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NBR has been the subject of a number of recent analyst reports. Susquehanna reiterated a “neutral” rating and issued a $56.00 price target on shares of Nabors Industries in a research report on Thursday, October 30th. Citigroup reiterated a “neutral” rating and issued a $58.00 target price (up from $38.00) on shares of Nabors Industries in a report on Monday, November 3rd. Barclays reissued an “underweight” rating and issued a $45.00 target price (up from $36.00) on shares of Nabors Industries in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a research note on Monday, December 8th. Finally, Morgan Stanley set a $55.00 price objective on shares of Nabors Industries and gave the stock an “overweight” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $48.14.

Nabors Industries Stock Performance

Shares of NBR stock opened at $54.59 on Friday. Nabors Industries Ltd. has a fifty-two week low of $23.27 and a fifty-two week high of $69.20. The stock’s 50-day moving average is $48.25 and its two-hundred day moving average is $39.28. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.93. The firm has a market cap of $794.79 million, a P/E ratio of 5.66 and a beta of 0.97.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) EPS for the quarter, missing the consensus estimate of ($2.37) by ($1.30). The firm had revenue of $825.51 million during the quarter, compared to the consensus estimate of $824.61 million. Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($6.86) EPS. Analysts predict that Nabors Industries Ltd. will post -6.22 earnings per share 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.