nVerses Capital LLC Makes New $45,000 Investment in Nabors Industries Ltd. (NYSE:NBR)

nVerses Capital LLC bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 700 shares of the oil and gas company’s stock, valued at approximately $45,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NBR. Russell Investments Group Ltd. grew its holdings in shares of Nabors Industries by 2,022.2% during the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 728 shares during the period. SG Americas Securities LLC bought a new position in Nabors Industries in the second quarter worth $159,000. The Manufacturers Life Insurance Company grew its position in shares of Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after buying an additional 181 shares during the period. Everence Capital Management Inc. increased its stake in shares of Nabors Industries by 46.0% in the 1st quarter. Everence Capital Management Inc. now owns 4,600 shares of the oil and gas company’s stock worth $396,000 after acquiring an additional 1,450 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Nabors Industries by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock worth $338,000 after acquiring an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NBR shares. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th. Barclays lowered their price objective on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $75.00 in a report on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.80.

Nabors Industries Stock Performance

NBR stock opened at $71.42 on Wednesday. The stock has a market capitalization of $764.34 million, a PE ratio of -5.17 and a beta of 2.11. The stock’s 50 day simple moving average is $73.47 and its 200 day simple moving average is $75.36. Nabors Industries Ltd. has a 12-month low of $59.67 and a 12-month high of $118.00. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 5.01.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results 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). Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The firm had revenue of $742.98 million for the quarter, compared to the consensus estimate of $737.91 million. During the same period in the previous year, the company earned ($2.26) earnings per share. Nabors Industries’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that Nabors Industries Ltd. will post -12.24 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.