Intech Investment Management LLC Grows Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Intech Investment Management LLC grew its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 6.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,372 shares of the oil and gas company’s stock after purchasing an additional 322 shares during the period. Intech Investment Management LLC’s holdings in Nabors Industries were worth $346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NBR. Vanguard Group Inc. lifted its stake in shares of Nabors Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after buying an additional 40,078 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Nabors Industries by 6.6% during the 1st 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 in the last quarter. SG Americas Securities LLC purchased a new stake in Nabors Industries in the 2nd quarter worth about $159,000. Bank of New York Mellon Corp raised its position in Nabors Industries by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock worth $8,189,000 after purchasing an additional 34,473 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Nabors Industries by 6.8% during the second quarter. Van ECK Associates Corp now owns 197,177 shares of the oil and gas company’s stock worth $14,031,000 after acquiring an additional 12,622 shares during the period. Institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th. Susquehanna decreased their target price on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Evercore ISI decreased their target price on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research report on Thursday, October 24th. Finally, Barclays decreased their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.00.

Nabors Industries Trading Down 0.9 %

NBR opened at $71.90 on Wednesday. Nabors Industries Ltd. has a fifty-two week low of $59.67 and a fifty-two week high of $105.96. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The company has a fifty day moving average of $74.41 and a two-hundred day moving average of $74.94.

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.