The Manufacturers Life Insurance Company Buys 181 Shares of Nabors Industries Ltd. (NYSE:NBR)

The Manufacturers Life Insurance Company grew its stake in Nabors Industries Ltd. (NYSE:NBR) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,567 shares of the oil and gas company’s stock after purchasing an additional 181 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Nabors Industries were worth $254,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NBR. Russell Investments Group Ltd. grew its stake in shares of Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 728 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after acquiring an additional 332 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Nabors Industries in the second quarter valued at about $159,000. AQR Capital Management LLC grew its stake in shares of Nabors Industries by 14.5% in the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 601 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Nabors Industries in the second quarter valued at about $359,000. 81.92% of the stock is owned by institutional investors.

Nabors Industries Trading Down 1.7 %

Shares of Nabors Industries stock opened at $73.09 on Friday. The firm’s 50-day moving average price is $73.64 and its two-hundred day moving average price is $75.64. Nabors Industries Ltd. has a 12-month low of $59.67 and a 12-month high of $125.86. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 5.01. The company has a market capitalization of $782.21 million, a price-to-earnings ratio of -5.29 and a beta of 2.11.

Nabors Industries (NYSE:NBR) last posted its quarterly 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 net margin of 4.73% and a negative return on equity of 28.10%. The company had revenue of $742.98 million during the quarter, compared to analyst estimates of $737.91 million. During the same quarter in the previous year, the business posted ($2.26) earnings per share. The company’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 -12.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup downgraded shares of Nabors Industries from a “buy” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $75.00 in a research note on Friday, September 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a research note on Wednesday. Finally, Barclays reduced their price objective 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. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.80.

Nabors Industries 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.