Nabors Industries Ltd. (NYSE:NBR) Holdings Trimmed by Swiss National Bank

Swiss National Bank lowered its holdings in Nabors Industries Ltd. (NYSE:NBR) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,900 shares of the oil and gas company’s stock after selling 800 shares during the period. Swiss National Bank owned approximately 0.16% of Nabors Industries worth $966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE boosted its holdings 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 worth $41,000 after purchasing an additional 505 shares during the period. R Squared Ltd acquired a new stake in shares of Nabors Industries during the 4th quarter valued at $70,000. Wellington Management Group LLP acquired a new stake in shares of Nabors Industries during the 3rd quarter valued at $220,000. Atom Investors LP purchased a new position in shares of Nabors Industries during the 3rd quarter valued at $332,000. Finally, Intech Investment Management LLC increased its stake in shares of 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 worth $346,000 after acquiring an additional 322 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NBR shares. Susquehanna lowered their target price on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley lowered their price target on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Barclays cut their price objective on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.33.

Nabors Industries Stock Performance

Shares of NYSE NBR opened at $41.70 on Friday. The business’s 50-day simple moving average is $48.47 and its 200-day simple moving average is $61.81. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. Nabors Industries Ltd. has a 52 week low of $34.42 and a 52 week high of $105.96. The firm has a market cap of $400.45 million, a price-to-earnings ratio of -1.86 and a beta of 2.08.

Nabors Industries (NYSE:NBR) last announced its 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, equities research analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal 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.