AQR Capital Management LLC Purchases 601 Shares of Nabors Industries Ltd. (NYSE:NBR)

AQR Capital Management LLC raised its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,753 shares of the oil and gas company’s stock after acquiring an additional 601 shares during the quarter. AQR Capital Management LLC’s holdings in Nabors Industries were worth $338,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in 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 worth $67,000 after buying an additional 728 shares during the period. GAMMA Investing LLC boosted its holdings in Nabors Industries by 29.1% in the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock worth $127,000 after buying an additional 332 shares during the period. SG Americas Securities LLC bought a new position in Nabors Industries in the 2nd quarter worth approximately $159,000. Everence Capital Management Inc. boosted its holdings in Nabors Industries by 46.0% in the 1st quarter. Everence Capital Management Inc. now owns 4,600 shares of the oil and gas company’s stock worth $396,000 after buying an additional 1,450 shares during the period. Finally, Intech Investment Management LLC bought a new position in Nabors Industries in the 2nd quarter worth approximately $359,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $75.39 on Thursday. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. The firm has a fifty day moving average price of $73.98 and a 200 day moving average price of $75.75. Nabors Industries Ltd. has a fifty-two week low of $59.67 and a fifty-two week high of $127.56. The firm has a market cap of $806.82 million, a price-to-earnings ratio of -5.46 and a beta of 2.11.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The business had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. Nabors Industries’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.26) EPS. As a group, sell-side analysts expect that Nabors Industries Ltd. will post -12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NBR has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a research note on Wednesday. Finally, Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.80.

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.