Thrivent Financial for Lutherans Reduces Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Thrivent Financial for Lutherans decreased its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,444 shares of the oil and gas company’s stock after selling 274 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Nabors Industries worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NBR. Vanguard Group Inc. increased its stake in Nabors Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock worth $70,550,000 after buying an additional 40,078 shares during the period. Gendell Jeffrey L raised its position in Nabors Industries by 10.1% during the first quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock worth $37,591,000 after acquiring an additional 40,141 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 buying an additional 209,450 shares in the last quarter. Apollo Management Holdings L.P. lifted its holdings in shares of Nabors Industries by 64.6% during the 1st quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock worth $28,861,000 after acquiring an additional 131,490 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Nabors Industries by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock valued at $20,634,000 after purchasing an additional 16,890 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NBR has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $114.00 target price on shares of Nabors Industries in a research note on Thursday, July 25th. Citigroup downgraded shares of Nabors Industries from a “buy” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $75.00 in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $104.50.

Nabors Industries Stock Performance

NBR stock opened at $76.29 on Wednesday. The company has a 50 day moving average price of $75.06 and a 200 day moving average price of $76.09. 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 Ltd. has a fifty-two week low of $59.67 and a fifty-two week high of $127.56. The stock has a market capitalization of $816.46 million, a PE ratio of -5.52 and a beta of 2.11.

Nabors Industries (NYSE:NBR) last posted 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%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned ($2.26) earnings per share. Analysts forecast that Nabors Industries Ltd. will post -12.47 EPS 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.