Intech Investment Management LLC Makes New Investment in Nabors Industries Ltd. (NYSE:NBR)

Intech Investment Management LLC bought a new position in Nabors Industries Ltd. (NYSE:NBR) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 5,050 shares of the oil and gas company’s stock, valued at approximately $359,000.

Several other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in shares of Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 728 shares during the period. GAMMA Investing LLC boosted its holdings in Nabors Industries by 29.1% in the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after purchasing an additional 332 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nabors Industries in the 2nd quarter valued at approximately $159,000. Everence Capital Management Inc. raised its position in shares of Nabors Industries by 46.0% during the 1st quarter. Everence Capital Management Inc. now owns 4,600 shares of the oil and gas company’s stock valued at $396,000 after buying an additional 1,450 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in Nabors Industries in the fourth quarter valued at approximately $411,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Up 1.6 %

NYSE:NBR opened at $61.95 on Friday. Nabors Industries Ltd. has a 52 week low of $59.67 and a 52 week high of $129.85. The stock’s fifty day moving average is $77.62 and its two-hundred day moving average is $76.90. The stock has a market capitalization of $662.99 million, a price-to-earnings ratio of -4.49 and a beta of 2.12. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 5.01.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.77) by ($2.52). The firm had revenue of $742.98 million for the quarter, compared to analyst estimates of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. Nabors Industries’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the company posted ($2.26) EPS. Research analysts anticipate that Nabors Industries Ltd. will post -12.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $75.00 in a research report on Friday, September 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $114.00 price objective on shares of Nabors Industries in a research report on Thursday, July 25th. Six equities research 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 currently has an average rating of “Hold” and a consensus price target of $104.50.

Nabors Industries Company 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.