Nabors Industries Ltd. (NYSE:NBR) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in Nabors Industries Ltd. (NYSE:NBR) by 20.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,250 shares of the oil and gas company’s stock after purchasing an additional 33,616 shares during the quarter. American Century Companies Inc. owned about 1.87% of Nabors Industries worth $14,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp boosted its holdings in Nabors Industries by 56.7% in the second quarter. Texas Permanent School Fund Corp now owns 12,115 shares of the oil and gas company’s stock valued at $862,000 after purchasing an additional 4,384 shares in the last quarter. Nicola Wealth Management LTD. boosted its holdings in shares of Nabors Industries by 182.9% in the second quarter. Nicola Wealth Management LTD. now owns 23,200 shares of the oil and gas company’s stock valued at $1,651,000 after acquiring an additional 15,000 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Nabors Industries by 6.8% in the second quarter. Van ECK Associates Corp now owns 197,177 shares of the oil and gas company’s stock valued at $14,031,000 after acquiring an additional 12,622 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Nabors Industries by 42.8% in 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 acquiring an additional 34,473 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Nabors Industries in the second quarter valued at approximately $159,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $75.00 in a report on Friday, September 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $114.00 price objective on shares of Nabors Industries in a 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $104.50.

Nabors Industries Price Performance

Nabors Industries stock opened at $67.32 on Friday. Nabors Industries Ltd. has a 12 month low of $59.90 and a 12 month high of $129.85. The stock has a market capitalization of $720.46 million, a PE ratio of -4.87 and a beta of 2.12. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.82 and a quick ratio of 1.57. The business has a 50 day simple moving average of $79.42 and a 200-day simple moving average of $77.46.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.26) earnings per share. Equities analysts predict that Nabors Industries Ltd. will post -11.98 earnings per share 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.