Principal Financial Group Inc. Has $2.74 Million Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Principal Financial Group Inc. lowered its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,418 shares of the oil and gas company’s stock after selling 1,941 shares during the quarter. Principal Financial Group Inc. owned 0.44% of Nabors Industries worth $2,735,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of Nabors Industries by 2,022.2% in the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 728 shares during the period. Vanguard Group Inc. grew its stake in 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 acquiring an additional 40,078 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Nabors Industries by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,471 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 399 shares in the last quarter. Gendell Jeffrey L raised its position in shares of 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 purchasing an additional 40,141 shares during the period. Finally, Apollo Management Holdings L.P. raised its position in shares of Nabors Industries by 64.6% during the first quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock worth $28,861,000 after purchasing an additional 131,490 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

NBR has been the subject of several research analyst reports. Citigroup boosted their price objective on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target on shares of Nabors Industries in a report on Wednesday, October 16th. Susquehanna dropped their price objective on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Evercore ISI reduced their target price on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday, October 24th. Finally, Barclays lowered their target price on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $97.00.

Nabors Industries Trading Up 2.5 %

Nabors Industries stock opened at $77.30 on Friday. The company has a market cap of $738.22 million, a price-to-earnings ratio of -4.20 and a beta of 2.09. The firm has a 50-day moving average of $73.69 and a 200-day moving average of $74.98. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. Nabors Industries Ltd. has a one year low of $59.67 and a one year high of $105.96.

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.