Nabors Industries Ltd. (NYSE:NBR) Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,392 shares of the oil and gas company’s stock after selling 464 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nabors Industries were worth $251,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NBR. Van ECK Associates Corp lifted its position in shares of Nabors Industries by 41.0% in the fourth quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock worth $11,580,000 after purchasing an additional 58,946 shares in the last quarter. Barclays PLC lifted its position in shares of Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after purchasing an additional 42,483 shares in the last quarter. PDT Partners LLC lifted its position in shares of Nabors Industries by 49.7% in the third quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock worth $3,008,000 after purchasing an additional 15,494 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Nabors Industries in the fourth quarter worth approximately $664,000. Finally, Centiva Capital LP purchased a new stake in shares of Nabors Industries in the third quarter worth approximately $531,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NBR shares. Susquehanna dropped their price objective on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Barclays dropped their price objective on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.00.

Nabors Industries Stock Down 0.6 %

NBR opened at $43.53 on Friday. Nabors Industries Ltd. has a 1-year low of $34.42 and a 1-year high of $105.96. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. The stock has a market capitalization of $418.05 million, a price-to-earnings ratio of -1.95 and a beta of 2.08. The business has a 50 day moving average of $50.76 and a 200-day moving average of $62.65.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. As a group, sell-side analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current 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.