2,005 Shares in Nabors Industries Ltd. (NYSE:NBR) Purchased by Arizona State Retirement System

Arizona State Retirement System acquired a new position in shares of Nabors Industries Ltd. (NYSE:NBRGet Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,005 shares of the oil and gas company’s stock, valued at approximately $306,000.

A number of other large investors have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale purchased a new stake in Nabors Industries during the first quarter worth about $1,359,000. Counterpoint Mutual Funds LLC purchased a new stake in Nabors Industries during the first quarter worth about $68,000. Bailard Inc. purchased a new stake in Nabors Industries during the first quarter worth about $367,000. Truist Financial Corp bought a new position in Nabors Industries during the first quarter worth about $478,000. Finally, Louisiana State Employees Retirement System boosted its position in Nabors Industries by 2.7% during the first quarter. Louisiana State Employees Retirement System now owns 3,800 shares of the oil and gas company’s stock worth $724,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Nabors Industries Price Performance

NBR stock opened at $115.64 on Friday. The firm has a 50 day moving average of $138.26 and a 200-day moving average of $140.80. The company has a current ratio of 1.84, a quick ratio of 1.58 and a debt-to-equity ratio of 3.83. Nabors Industries Ltd. has a 12 month low of $65.58 and a 12 month high of $207.67. The firm has a market capitalization of $1.21 billion, a P/E ratio of -1.45 and a beta of 2.70.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NBR shares. Susquehanna Bancshares cut their target price on shares of Nabors Industries from $170.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, June 8th. Morgan Stanley cut their target price on shares of Nabors Industries from $150.00 to $125.00 and set an “underweight” rating for the company in a research report on Wednesday, July 13th. Barclays increased their target price on shares of Nabors Industries from $132.00 to $180.00 in a research report on Monday, May 2nd. Finally, Susquehanna cut their target price on shares of Nabors Industries from $170.00 to $21.00 in a research report on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Nabors Industries presently has a consensus rating of “Hold” and an average target price of $93.67.

Nabors Industries Company Profile

(Get Rating)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

Further Reading

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

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