Public Employees Retirement Association of Colorado Acquires 32,860 Shares of Nabors Industries Ltd. (NBR)

Public Employees Retirement Association of Colorado increased its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 55.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,874 shares of the oil and gas company’s stock after acquiring an additional 32,860 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Nabors Industries were worth $627,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NBR. Northern Trust Corp boosted its position in shares of Nabors Industries by 6.5% during the 2nd quarter. Northern Trust Corp now owns 2,687,018 shares of the oil and gas company’s stock valued at $21,872,000 after acquiring an additional 164,058 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Nabors Industries during the 2nd quarter valued at about $1,723,000. State Street Corp boosted its position in shares of Nabors Industries by 3.0% during the 2nd quarter. State Street Corp now owns 8,519,273 shares of the oil and gas company’s stock valued at $69,351,000 after acquiring an additional 248,054 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Nabors Industries during the 2nd quarter valued at about $3,416,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Nabors Industries by 38.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 51,070 shares of the oil and gas company’s stock valued at $416,000 after acquiring an additional 14,258 shares in the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Seaport Global Securities reiterated a “buy” rating and set a $13.00 target price on shares of Nabors Industries in a research report on Thursday, January 18th. Cowen set a $9.00 target price on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, January 11th. UBS Group decreased their target price on shares of Nabors Industries from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Finally, Royal Bank of Canada set a $8.00 target price on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, December 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $10.89.

Nabors Industries Ltd. (NYSE:NBR) opened at $6.62 on Monday. Nabors Industries Ltd. has a 12 month low of $5.32 and a 12 month high of $15.80. The firm has a market cap of $2,100.00, a PE ratio of -2.47 and a beta of 1.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27.

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About Nabors Industries

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

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Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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