Readystate Asset Management LP Increases Stake in Nabors Industries Ltd. (NYSE:NBR)

Readystate Asset Management LP grew its stake in Nabors Industries Ltd. (NYSE:NBR) by 44.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,499 shares of the oil and gas company’s stock after buying an additional 8,164 shares during the quarter. Readystate Asset Management LP’s holdings in Nabors Industries were worth $2,163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Nabors Industries by 8.8% during the 3rd quarter. BlackRock Inc. now owns 1,696,916 shares of the oil and gas company’s stock worth $172,152,000 after acquiring an additional 136,874 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Nabors Industries by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 750,842 shares of the oil and gas company’s stock worth $76,173,000 after acquiring an additional 59,309 shares in the last quarter. State Street Corp raised 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 worth $58,512,000 after acquiring an additional 63,266 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after acquiring an additional 209,450 shares in the last quarter. Finally, Gendell Jeffrey L increased its position in Nabors Industries by 3.2% during the fourth quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock worth $32,350,000 after buying an additional 12,119 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NBR shares. Susquehanna reaffirmed a “neutral” rating and set a $88.00 price target on shares of Nabors Industries in a research report on Monday, April 8th. Atb Cap Markets lowered Nabors Industries from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. Morgan Stanley cut their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Finally, Benchmark lowered Nabors Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $129.60.

Nabors Industries Stock Performance

Shares of NYSE:NBR traded up $0.20 during trading on Wednesday, reaching $75.10. The company had a trading volume of 224,514 shares, compared to its average volume of 245,545. The firm has a market capitalization of $711.35 million, a price-to-earnings ratio of -14.55 and a beta of 2.33. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23. The stock’s fifty day moving average price is $83.45 and its 200 day moving average price is $88.75. Nabors Industries Ltd. has a fifty-two week low of $71.42 and a fifty-two week high of $141.47.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). The firm had revenue of $737.84 million for the quarter, compared to analysts’ expectations of $749.52 million. Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. As a group, equities research analysts predict that Nabors Industries Ltd. will post -4.31 EPS for the current 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.