Readystate Asset Management LP Acquires 8,164 Shares of Nabors Industries Ltd. (NYSE:NBR)

Readystate Asset Management LP raised its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 44.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,499 shares of the oil and gas company’s stock after purchasing an additional 8,164 shares during the quarter. Readystate Asset Management LP owned 0.28% of Nabors Industries worth $2,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in shares of Nabors Industries by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,758 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 95 shares during the last quarter. Eaton Vance Management increased its stake in shares of Nabors Industries by 2.2% during the first quarter. Eaton Vance Management now owns 4,437 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 97 shares during the period. Point72 Middle East FZE increased its stake in shares of Nabors Industries by 3.6% during the second quarter. Point72 Middle East FZE now owns 3,341 shares of the oil and gas company’s stock valued at $311,000 after buying an additional 115 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Nabors Industries by 0.9% during the third quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock valued at $2,070,000 after buying an additional 148 shares during the period. Finally, US Bancorp DE increased its stake in shares of Nabors Industries by 72.1% during the second quarter. US Bancorp DE now owns 389 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 163 shares during the period. 81.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Susquehanna restated a “neutral” rating and set a $88.00 price target on shares of Nabors Industries in a research note on Monday, April 8th. Benchmark lowered Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley cut their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Finally, Atb Cap Markets lowered Nabors Industries from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $129.60.

Nabors Industries Stock Up 0.3 %

Shares of NBR stock traded up $0.20 during trading hours on Wednesday, reaching $75.10. 224,514 shares of the company’s stock were exchanged, compared to its average volume of 245,545. Nabors Industries Ltd. has a 1 year low of $71.42 and a 1 year high of $141.47. The stock has a market cap of $711.35 million, a PE ratio of -14.55 and a beta of 2.33. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63. The stock’s fifty day moving average price is $83.45 and its two-hundred day moving average price is $88.75.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. The business had revenue of $737.84 million for the quarter, compared to analysts’ expectations of $749.52 million. Research analysts predict that Nabors Industries Ltd. will post -4.31 EPS for the current year.

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.