Nabors Industries Ltd. (NYSE:NBR) Holdings Cut by XTX Topco Ltd

XTX Topco Ltd decreased its stake in Nabors Industries Ltd. (NYSE:NBR) by 30.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,789 shares of the oil and gas company’s stock after selling 1,631 shares during the quarter. XTX Topco Ltd’s holdings in Nabors Industries were worth $270,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after purchasing an additional 209,450 shares in the last quarter. Elm Ridge Management LLC lifted its holdings in Nabors Industries by 17.6% in the 4th quarter. Elm Ridge Management LLC now owns 30,374 shares of the oil and gas company’s stock worth $2,479,000 after purchasing an additional 4,553 shares during the last quarter. Vanguard Group Inc. boosted its position in Nabors Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock worth $70,550,000 after purchasing an additional 40,078 shares during the period. Dimensional Fund Advisors LP grew its holdings in Nabors Industries by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock valued at $24,102,000 after purchasing an additional 13,324 shares during the last quarter. Finally, Burney Co. acquired a new stake in shares of Nabors Industries in the first quarter worth $989,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $114.00 target price on shares of Nabors Industries in a research note on Thursday, July 25th. Citigroup lowered Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Nabors Industries currently has an average rating of “Hold” and a consensus price target of $104.50.

Nabors Industries Stock Performance

NYSE NBR opened at $61.95 on Friday. Nabors Industries Ltd. has a 52-week low of $59.67 and a 52-week high of $129.85. The firm has a market capitalization of $662.99 million, a price-to-earnings ratio of -4.49 and a beta of 2.12. The company’s fifty day moving average is $77.62 and its two-hundred day moving average is $76.90. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.82 and a quick ratio of 1.57.

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 the consensus estimate of ($1.77) by ($2.52). The firm had revenue of $742.98 million for the quarter, compared to analyst estimates of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. Nabors Industries’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.26) EPS. Equities research analysts forecast that Nabors Industries Ltd. will post -12.47 EPS for the current 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.