HighTower Advisors LLC Buys 16,761 Shares of Nabors Industries Ltd. (NYSE:NBR)

HighTower Advisors LLC increased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 152.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,727 shares of the oil and gas company’s stock after acquiring an additional 16,761 shares during the period. HighTower Advisors LLC owned about 0.26% of Nabors Industries worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE boosted its stake in shares of Nabors Industries by 234.9% during 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 acquired a new stake in Nabors Industries in the fourth quarter worth $70,000. Wellington Management Group LLP acquired a new stake in Nabors Industries in the third quarter worth $220,000. Atom Investors LP acquired a new position in shares of Nabors Industries during the third quarter valued at about $332,000. Finally, Intech Investment Management LLC boosted its position in shares of Nabors Industries by 6.4% during the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 322 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Stock Performance

NYSE NBR opened at $43.27 on Tuesday. The company’s 50 day moving average is $50.35 and its 200-day moving average is $62.44. The firm has a market cap of $415.53 million, a P/E ratio of -1.93 and a beta of 2.08. Nabors Industries Ltd. has a 12-month low of $34.42 and a 12-month high of $105.96. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Analyst Ratings Changes

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

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.