17,311 Shares in Nabors Industries Ltd. (NYSE:NBR) Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in Nabors Industries Ltd. (NYSE:NBR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,311 shares of the oil and gas company’s stock, valued at approximately $1,242,000. Hsbc Holdings PLC owned about 0.16% of Nabors Industries as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 332 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Nabors Industries by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,471 shares of the oil and gas company’s stock valued at $558,000 after buying an additional 399 shares during the period. Swiss National Bank lifted its holdings in Nabors Industries by 3.4% in the first quarter. Swiss National Bank now owns 18,500 shares of the oil and gas company’s stock valued at $1,593,000 after buying an additional 600 shares during the period. Russell Investments Group Ltd. lifted its holdings in 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 buying an additional 728 shares during the period. Finally, Everence Capital Management Inc. lifted its holdings in Nabors Industries by 46.0% in the first 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. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Trading Up 1.6 %

NYSE:NBR opened at $61.95 on Friday. 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 firm has a 50-day moving average of $77.62 and a 200-day moving average of $76.90. The company has a market cap of $662.99 million, a PE ratio of -4.49 and a beta of 2.12. Nabors Industries Ltd. has a one year low of $59.67 and a one year high of $129.85.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data 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). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The firm had revenue of $742.98 million during the quarter, compared to the consensus estimate of $737.91 million. During the same period in the previous year, the company posted ($2.26) earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts expect that Nabors Industries Ltd. will post -12.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NBR. Citigroup lowered shares of Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $75.00 in a report on Friday, September 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $114.00 price objective on shares of Nabors Industries in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.