RIA Advisory Group LLC Buys New Position in Nabors Industries Ltd. (NYSE:NBR)

RIA Advisory Group LLC bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,000 shares of the oil and gas company’s stock, valued at approximately $980,000. RIA Advisory Group LLC owned approximately 0.13% of Nabors Industries as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $350,000 after purchasing an additional 95 shares during the last quarter. Eaton Vance Management lifted its holdings 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 purchasing an additional 97 shares during the last quarter. Point72 Middle East FZE lifted its holdings 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 purchasing an additional 115 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings 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 purchasing an additional 148 shares during the last quarter. Finally, US Bancorp DE lifted its holdings 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 purchasing an additional 163 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Nabors Industries Stock Down 0.7 %

Shares of NYSE NBR traded down $0.51 during mid-day trading on Friday, reaching $76.53. 194,246 shares of the company traded hands, compared to its average volume of 245,611. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.23 and a current ratio of 1.36. The stock has a market cap of $724.74 million, a PE ratio of -14.87 and a beta of 2.33. The company’s fifty day moving average is $83.38 and its two-hundred day moving average is $88.67. Nabors Industries Ltd. has a fifty-two week low of $71.42 and a fifty-two week high of $141.47.

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