Texas Permanent School Fund Corp Has $862,000 Position in Nabors Industries Ltd. (NYSE:NBR)

Texas Permanent School Fund Corp boosted its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 56.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,115 shares of the oil and gas company’s stock after acquiring an additional 4,384 shares during the period. Texas Permanent School Fund Corp owned 0.11% of Nabors Industries worth $862,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Nabors Industries by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 181,613 shares of the oil and gas company’s stock worth $14,825,000 after purchasing an additional 13,980 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Nabors Industries by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock worth $24,102,000 after buying an additional 13,324 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Nabors Industries by 202.4% in the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 502 shares during the last quarter. Trexquant Investment LP raised its position in shares of Nabors Industries by 280.7% in the 4th quarter. Trexquant Investment LP now owns 14,087 shares of the oil and gas company’s stock valued at $1,150,000 after acquiring an additional 10,387 shares during the period. Finally, Contrarius Investment Management Ltd boosted its stake in Nabors Industries by 23.5% during the 4th quarter. Contrarius Investment Management Ltd now owns 140,626 shares of the oil and gas company’s stock worth $11,479,000 after acquiring an additional 26,730 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NBR. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $114.00 target price on shares of Nabors Industries in a research note on Thursday, July 25th. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $110.00 to $75.00 in a research report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.50.

Nabors Industries Stock Performance

Shares of NBR opened at $67.32 on Friday. The firm’s 50 day moving average price is $79.58 and its two-hundred day moving average price is $77.58. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. Nabors Industries Ltd. has a twelve month low of $59.90 and a twelve month high of $129.85. The firm has a market cap of $720.46 million, a P/E ratio of -4.80 and a beta of 2.12.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company had revenue of $742.98 million during the quarter, compared to analyst estimates of $737.91 million. During the same period in the previous year, the company posted ($2.26) earnings per share. Nabors Industries’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts forecast that Nabors Industries Ltd. will post -11.98 EPS 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.