Nabors Industries Ltd. (NYSE:NBR) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Nabors Industries Ltd. (NYSE:NBR) by 44.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,267 shares of the oil and gas company’s stock after selling 17,362 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of Nabors Industries worth $1,371,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in Nabors Industries by 10.6% in the 3rd quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock worth $3,339,000 after acquiring an additional 4,949 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Nabors Industries by 6.4% during the third 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. Entropy Technologies LP acquired a new position in shares of Nabors Industries during the 3rd quarter worth about $600,000. Signaturefd LLC lifted its stake in Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 472 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Nabors Industries in the 3rd quarter worth about $45,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NBR has been the topic of several research reports. Susquehanna decreased their target price on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Evercore ISI lowered their target price on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th. Barclays decreased their price target 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, October 16th. Finally, Citigroup increased their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.00.

Nabors Industries Trading Down 3.0 %

Shares of NBR opened at $59.85 on Wednesday. Nabors Industries Ltd. has a 12-month low of $58.00 and a 12-month high of $105.96. The firm has a market capitalization of $640.93 million, a P/E ratio of -3.25 and a beta of 2.05. The firm has a 50-day moving average price of $73.53 and a 200 day moving average price of $74.33. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43.

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.