Geode Capital Management LLC Grows Holdings in Nabors Industries Ltd. (NYSE:NBR)

Geode Capital Management LLC lifted its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,041 shares of the oil and gas company’s stock after acquiring an additional 3,054 shares during the period. Geode Capital Management LLC owned 2.16% of Nabors Industries worth $13,286,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Nabors Industries during the 3rd quarter worth about $45,000. Signaturefd LLC lifted its holdings in shares of Nabors Industries by 52.9% during the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 472 shares during the period. Wellington Management Group LLP purchased a new position in shares of Nabors Industries during the 3rd quarter worth about $220,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Nabors Industries by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 181 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Nabors Industries by 79.6% in the third quarter. SG Americas Securities LLC now owns 4,017 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 1,780 shares during the period. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Stock Up 6.0 %

Shares of NYSE:NBR opened at $54.25 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. Nabors Industries Ltd. has a 52-week low of $50.15 and a 52-week high of $105.96. The company has a 50 day moving average of $69.91 and a two-hundred day moving average of $73.54. The company has a market capitalization of $580.96 million, a price-to-earnings ratio of -2.95 and a beta of 2.05.

Analyst Ratings Changes

NBR has been the topic of several research reports. Barclays cut 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 report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Nabors Industries in a report on Wednesday, October 16th. Evercore ISI cut their price target on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a report on Thursday, October 24th. Susquehanna cut their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup raised their price target 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. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and a consensus price target of $97.00.

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.