Vanguard Group Inc. Cuts Holdings in Nabors Industries Ltd. (NYSE:NBR)

Vanguard Group Inc. lowered its holdings in Nabors Industries Ltd. (NYSE:NBR) by 8.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 875,042 shares of the oil and gas company’s stock after selling 82,816 shares during the quarter. Vanguard Group Inc. owned 9.24% of Nabors Industries worth $107,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased its position in Nabors Industries by 8.8% during the third quarter. BlackRock Inc. now owns 1,696,916 shares of the oil and gas company’s stock valued at $172,152,000 after acquiring an additional 136,874 shares during the last quarter. State Street Corp increased its position in shares of Nabors Industries by 15.2% during the 1st quarter. State Street Corp now owns 479,970 shares of the oil and gas company’s stock valued at $58,512,000 after purchasing an additional 63,266 shares during the last quarter. Gendell Jeffrey L increased its position in shares of Nabors Industries by 75.1% during the 3rd quarter. Gendell Jeffrey L now owns 384,182 shares of the oil and gas company’s stock valued at $47,308,000 after purchasing an additional 164,816 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Nabors Industries by 5.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 292,061 shares of the oil and gas company’s stock worth $35,604,000 after purchasing an additional 14,612 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Nabors Industries by 158.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 234,826 shares of the oil and gas company’s stock worth $35,863,000 after buying an additional 143,840 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

NYSE:NBR opened at $90.34 on Thursday. The stock has a 50-day moving average price of $83.64 and a 200 day moving average price of $91.90. The stock has a market capitalization of $855.52 million, a P/E ratio of -17.51 and a beta of 2.33. Nabors Industries Ltd. has a 12-month low of $71.42 and a 12-month high of $141.47. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. The company had revenue of $737.84 million for the quarter, compared to analysts’ expectations of $749.52 million. Equities research analysts forecast that Nabors Industries Ltd. will post -4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NBR has been the subject of a number of recent research reports. StockNews.com downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Atb Cap Markets cut Nabors Industries from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. Susquehanna reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Nabors Industries in a research report on Tuesday, February 13th. Morgan Stanley reduced their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Finally, Benchmark downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Nabors Industries presently has a consensus rating of “Hold” and a consensus price target of $129.60.

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.