Nabors Industries Ltd. (NYSE:NBR) is Hara Capital LLC’s 7th Largest Position

Hara Capital LLC reduced its stake in Nabors Industries Ltd. (NYSE:NBR) by 7.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 79,387 shares of the oil and gas company’s stock after selling 6,683 shares during the period. Nabors Industries makes up 3.1% of Hara Capital LLC’s investment portfolio, making the stock its 7th largest position. Hara Capital LLC’s holdings in Nabors Industries were worth $5,118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NBR. Apollo Management Holdings L.P. lifted its position in Nabors Industries by 64.6% in the first quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock valued at $28,861,000 after acquiring an additional 131,490 shares during the last quarter. Gendell Jeffrey L increased its position in shares of Nabors Industries by 10.1% during the first quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock worth $37,591,000 after purchasing an additional 40,141 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nabors Industries by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after purchasing an additional 40,078 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Nabors Industries by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock valued at $8,189,000 after purchasing an additional 34,473 shares during the period. Finally, American Century Companies Inc. grew its stake in Nabors Industries by 20.2% during the 2nd quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock worth $14,250,000 after buying an additional 33,616 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

NBR has been the subject of a number of research reports. Citigroup boosted their price objective on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Susquehanna decreased their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a research note on Wednesday, October 16th. Evercore ISI lowered their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a report on Thursday, October 24th. Finally, Barclays reduced their price objective on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and an average target price of $97.00.

Nabors Industries Stock Performance

NYSE NBR traded down $2.01 during trading hours on Thursday, hitting $82.37. 59,968 shares of the stock were exchanged, compared to its average volume of 281,648. The company has a quick ratio of 1.57, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The company has a market cap of $786.47 million, a price-to-earnings ratio of -4.58 and a beta of 2.09. Nabors Industries Ltd. has a 12-month low of $59.67 and a 12-month high of $105.96. The stock has a 50-day moving average of $71.88 and a 200 day moving average of $74.87.

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.