Nabors Industries Ltd. (NYSE:NBR) Stock Holdings Cut by Tejara Capital Ltd

Tejara Capital Ltd trimmed its position in Nabors Industries Ltd. (NYSE:NBR) by 7.4% during the 4th quarter, HoldingsChannel reports. The firm owned 120,347 shares of the oil and gas company’s stock after selling 9,644 shares during the period. Nabors Industries comprises about 4.4% of Tejara Capital Ltd’s investment portfolio, making the stock its 9th biggest position. Tejara Capital Ltd’s holdings in Nabors Industries were worth $6,880,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Intech Investment Management LLC raised its stake in shares of Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after buying an additional 322 shares during the period. US Bancorp DE raised its stake in shares of Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after buying an additional 505 shares during the period. Inspire Investing LLC raised its stake in shares of Nabors Industries by 8.8% in the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock worth $397,000 after buying an additional 563 shares during the period. Principal Financial Group Inc. raised its stake in shares of Nabors Industries by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 43,602 shares of the oil and gas company’s stock worth $2,493,000 after buying an additional 1,184 shares during the period. Finally, R Squared Ltd bought a new position in shares of Nabors Industries in the fourth quarter worth about $70,000. Institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

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

Nabors Industries Stock Up 0.8 %

Shares of NBR opened at $43.90 on Tuesday. The business’s 50 day moving average is $52.30 and its 200 day moving average is $63.43. The company has a market capitalization of $421.59 million, a PE ratio of -1.96 and a beta of 2.08. Nabors Industries Ltd. has a 12-month low of $34.42 and a 12-month 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.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) 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%. Research analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal 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.