Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Nabors Industries Ltd. (NYSE:NBR – Get Rating) by 49.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,502 shares of the oil and gas company’s stock after selling 1,498 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Nabors Industries were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Profund Advisors LLC lifted its holdings in shares of Nabors Industries by 3.3% in the 1st quarter. Profund Advisors LLC now owns 2,818 shares of the oil and gas company’s stock valued at $430,000 after buying an additional 89 shares during the period. New York State Common Retirement Fund lifted its holdings in Nabors Industries by 1.8% in the first quarter. New York State Common Retirement Fund now owns 5,078 shares of the oil and gas company’s stock valued at $776,000 after acquiring an additional 91 shares during the period. Eaton Vance Management lifted its holdings in Nabors Industries by 2.2% in the first quarter. Eaton Vance Management now owns 4,437 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 97 shares during the period. New York State Teachers Retirement System boosted its position in shares of Nabors Industries by 1.0% during the 2nd quarter. New York State Teachers Retirement System now owns 10,085 shares of the oil and gas company’s stock worth $1,350,000 after purchasing an additional 100 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Nabors Industries by 6.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,648 shares of the oil and gas company’s stock worth $354,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.
Nabors Industries Trading Down 3.9 %
Shares of Nabors Industries stock opened at $156.87 on Thursday. The business has a 50 day moving average price of $140.18 and a 200 day moving average price of $137.28. The company has a market capitalization of $1.48 billion, a P/E ratio of -3.25 and a beta of 2.91. The company has a debt-to-equity ratio of 4.34, a current ratio of 1.73 and a quick ratio of 1.50. Nabors Industries Ltd. has a 1 year low of $72.46 and a 1 year high of $207.67.
Analysts Set New Price Targets
About Nabors Industries
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.
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