Nabors Industries Ltd. (NYSE:NBR) Stock Holdings Lessened by Profund Advisors LLC

Profund Advisors LLC cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 44.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,649 shares of the oil and gas company’s stock after selling 2,862 shares during the quarter. Profund Advisors LLC’s holdings in Nabors Industries were worth $260,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Nabors Industries by 2,022.2% during 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 last quarter. GAMMA Investing LLC raised its holdings in Nabors Industries by 29.1% during the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock worth $127,000 after buying an additional 332 shares during the period. SG Americas Securities LLC purchased a new stake in Nabors Industries during the second quarter valued at about $159,000. Intech Investment Management LLC acquired a new position in shares of Nabors Industries in the second quarter worth about $359,000. Finally, Everence Capital Management Inc. increased its position in shares of 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 worth $396,000 after acquiring an additional 1,450 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

Shares of NBR opened at $61.95 on Friday. The company has a market capitalization of $662.99 million, a PE ratio of -4.49 and a beta of 2.12. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. The company’s 50 day moving average price is $77.62 and its 200 day moving average price is $76.90. Nabors Industries Ltd. has a 52 week low of $59.67 and a 52 week high of $129.85.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $737.91 million. During the same quarter in the prior year, the firm earned ($2.26) earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. Research analysts expect that Nabors Industries Ltd. will post -12.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on NBR. Citigroup lowered shares of Nabors Industries from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $114.00 target price on shares of Nabors Industries in a research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.