SG Americas Securities LLC Buys New Holdings in Nabors Industries Ltd. (NYSE:NBR)

SG Americas Securities LLC acquired a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 2,237 shares of the oil and gas company’s stock, valued at approximately $159,000.

Several other large investors have also made changes to their positions in NBR. Goldman Sachs Group Inc. raised its stake 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 valued at $32,415,000 after buying an additional 209,450 shares during the last quarter. Elm Ridge Management LLC grew its holdings in Nabors Industries by 17.6% during the fourth quarter. Elm Ridge Management LLC now owns 30,374 shares of the oil and gas company’s stock worth $2,479,000 after acquiring an additional 4,553 shares during the period. Vanguard Group Inc. raised its position 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 acquiring an additional 40,078 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Nabors Industries by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock valued at $24,102,000 after acquiring an additional 13,324 shares during the period. Finally, Burney Co. purchased a new stake in Nabors Industries in the 1st quarter worth approximately $989,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Stock Performance

NYSE:NBR opened at $80.44 on Friday. The company has a fifty day moving average of $79.12 and a two-hundred day moving average of $78.89. Nabors Industries Ltd. has a fifty-two week low of $59.90 and a fifty-two week high of $141.47. The stock has a market capitalization of $860.87 million, a PE ratio of -5.82 and a beta of 2.22. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.53 and a current ratio of 1.82.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The company had revenue of $742.98 million during the quarter, compared to analysts’ expectations of $737.91 million. During the same period in the prior year, the business posted ($2.26) earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that Nabors Industries Ltd. will post -7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $114.00 target price on shares of Nabors Industries in a research note on Thursday, July 25th. Citigroup dropped their target price on Nabors Industries from $95.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $108.50.

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.