Verition Fund Management LLC Sells 3,948 Shares of Nabors Industries Ltd. (NYSE:NBR)

Verition Fund Management LLC reduced its position in Nabors Industries Ltd. (NYSE:NBR) by 37.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,642 shares of the oil and gas company’s stock after selling 3,948 shares during the quarter. Verition Fund Management LLC owned about 0.07% of Nabors Industries worth $428,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nicola Wealth Management LTD. lifted its position in Nabors Industries by 182.9% during 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 purchasing an additional 15,000 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Nabors Industries during the second quarter valued at approximately $1,242,000. Dimensional Fund Advisors LP lifted its position in Nabors Industries by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock valued at $20,634,000 after purchasing an additional 16,890 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Nabors Industries by 42.8% during 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 purchasing an additional 34,473 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake 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 in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Nabors Industries Stock Down 2.0 %

Shares of NYSE NBR opened at $67.23 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. Nabors Industries Ltd. has a 52 week low of $59.67 and a 52 week high of $105.96. The firm’s fifty day moving average is $74.57 and its 200 day moving average is $74.56. The company has a market cap of $719.97 million, a price-to-earnings ratio of -3.66 and a beta of 2.05.

About Nabors Industries

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.