Signaturefd LLC Decreases Stake in Nabors Industries Ltd. (NYSE:NBR)

Signaturefd LLC cut its position in Nabors Industries Ltd. (NYSE:NBR) by 43.6% during the fourth quarter, HoldingsChannel reports. The firm owned 769 shares of the oil and gas company’s stock after selling 595 shares during the quarter. Signaturefd LLC’s holdings in Nabors Industries were worth $44,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE increased its holdings in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 505 shares during the last quarter. R Squared Ltd purchased a new position in shares of Nabors Industries in the 4th quarter valued at about $70,000. Wellington Management Group LLP acquired a new stake in shares of Nabors Industries during the 3rd quarter worth about $220,000. Atom Investors LP purchased a new stake in Nabors Industries during the third quarter worth approximately $332,000. Finally, Intech Investment Management LLC boosted its holdings in Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 322 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna reduced their price objective on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Barclays reduced their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Nabors Industries currently has an average rating of “Hold” and a consensus target price of $73.00.

Nabors Industries Stock Up 0.9 %

NBR stock opened at $43.51 on Wednesday. The company has a market cap of $417.87 million, a price-to-earnings ratio of -1.95 and a beta of 2.08. The company has a fifty day moving average price of $49.95 and a 200 day moving average price of $62.28. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. Nabors Industries Ltd. has a 12 month low of $34.42 and a 12 month high of $105.96.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. Sell-side analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Nabors Industries 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.