Marshall Wace LLP Reduces Holdings in Nabors Industries Ltd. (NYSE:NBR)

Marshall Wace LLP cut its stake in Nabors Industries Ltd. (NYSE:NBR) by 29.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,634 shares of the oil and gas company’s stock after selling 10,547 shares during the period. Marshall Wace LLP owned about 0.24% of Nabors Industries worth $1,824,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in shares of Nabors Industries by 111.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after acquiring an additional 209,450 shares during the last quarter. Elm Ridge Management LLC increased its stake in Nabors Industries by 17.6% in the fourth quarter. Elm Ridge Management LLC now owns 30,374 shares of the oil and gas company’s stock valued at $2,479,000 after purchasing an additional 4,553 shares during the period. Vanguard Group Inc. raised its holdings in shares of Nabors Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after buying an additional 40,078 shares during the last quarter. Burney Co. acquired a new stake in shares of Nabors Industries during the first quarter worth about $989,000. Finally, Gendell Jeffrey L grew its holdings in shares of Nabors Industries by 3.2% during the fourth quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock worth $32,350,000 after buying an additional 12,119 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Price Performance

Shares of NBR opened at $81.30 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 5.01. The stock’s 50 day moving average is $75.80 and its two-hundred day moving average is $76.40. Nabors Industries Ltd. has a twelve month low of $59.67 and a twelve month high of $127.56. The firm has a market capitalization of $870.07 million, a PE ratio of -5.89 and a beta of 2.11.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The business had revenue of $742.98 million for the quarter, compared to analyst estimates of $737.91 million. During the same period in the prior year, the company earned ($2.26) EPS. The company’s revenue was down 4.6% on a year-over-year basis. Research analysts anticipate that Nabors Industries Ltd. will post -12.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $110.00 to $75.00 in a research note on Friday, September 13th. Royal Bank of Canada restated a “sector perform” rating and set a $114.00 price target on shares of Nabors Industries in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $104.50.

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.