Amundi Purchases 4,685 Shares of Nabors Industries Ltd. (NYSE:NBR)

Amundi increased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 192.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,115 shares of the oil and gas company’s stock after buying an additional 4,685 shares during the quarter. Amundi owned 0.07% of Nabors Industries worth $443,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. US Bancorp DE grew its stake in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 505 shares in the last quarter. R Squared Ltd bought a new position in Nabors Industries in the fourth quarter valued at approximately $70,000. Wellington Management Group LLP bought a new position in Nabors Industries in the third quarter valued at approximately $220,000. Atom Investors LP bought a new position in Nabors Industries in the third quarter valued at approximately $332,000. Finally, Intech Investment Management LLC grew its stake in Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 322 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Susquehanna reduced their target price on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Barclays reduced their target price on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.00.

Nabors Industries Stock Performance

Shares of NBR stock opened at $43.73 on Friday. The business’s 50 day simple moving average is $51.15 and its 200 day simple moving average is $62.93. Nabors Industries Ltd. has a one year low of $34.42 and a one year high of $105.96. The stock has a market capitalization of $419.96 million, a PE ratio of -1.96 and a beta of 2.08. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. As a group, research analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share 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.