Nabors Industries Ltd. (NYSE:NBR) Stake Lessened by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its stake in Nabors Industries Ltd. (NYSE:NBR) by 4.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,300 shares of the oil and gas company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Nabors Industries were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NBR. Apollo Management Holdings L.P. lifted its stake in Nabors Industries by 64.6% during the first quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock valued at $28,861,000 after purchasing an additional 131,490 shares during the last quarter. Gendell Jeffrey L lifted its stake in Nabors Industries by 10.1% during the first quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock valued at $37,591,000 after purchasing an additional 40,141 shares during the last quarter. Vanguard Group Inc. lifted its stake in Nabors Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after purchasing an additional 40,078 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Nabors Industries by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock valued at $8,189,000 after purchasing an additional 34,473 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Nabors Industries by 20.2% during the second quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock valued at $14,250,000 after purchasing an additional 33,616 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Evercore ISI cut their target price on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Citigroup upped their price target on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays reduced their price target on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, Susquehanna reduced their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $97.00.

Nabors Industries Stock Up 6.9 %

NBR stock opened at $84.25 on Thursday. Nabors Industries Ltd. has a 12-month low of $59.67 and a 12-month high of $105.96. The company has a quick ratio of 1.57, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The company has a market cap of $804.42 million, a price-to-earnings ratio of -4.59 and a beta of 2.09. The company has a 50 day moving average of $71.77 and a two-hundred day moving average of $74.81.

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.