Nabors Industries Ltd. (NYSE:NBR) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,649 shares of the oil and gas company’s stock after purchasing an additional 700 shares during the period. Ensign Peak Advisors Inc’s holdings in Nabors Industries were worth $615,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Nabors Industries by 2,022.2% during the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 728 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 332 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Nabors Industries during the 2nd quarter worth about $159,000. Everence Capital Management Inc. boosted its stake in shares of Nabors Industries by 46.0% during the 1st quarter. Everence Capital Management Inc. now owns 4,600 shares of the oil and gas company’s stock worth $396,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Nabors Industries during the 4th quarter worth about $411,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Trading Up 1.6 %

Shares of NBR stock opened at $61.95 on Friday. The firm has a market cap of $662.99 million, a P/E ratio of -4.49 and a beta of 2.12. Nabors Industries Ltd. has a 1-year low of $59.67 and a 1-year high of $129.85. 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’s 50-day simple moving average is $77.62 and its 200-day simple moving average is $76.86.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. During the same quarter in the previous year, the company earned ($2.26) earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. As a group, equities analysts forecast that Nabors Industries Ltd. will post -12.47 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on NBR. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $75.00 in a research note 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock 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.