XTX Topco Ltd Sells 1,631 Shares of Nabors Industries Ltd. (NYSE:NBR)

XTX Topco Ltd reduced its stake in Nabors Industries Ltd. (NYSE:NBR) by 30.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,789 shares of the oil and gas company’s stock after selling 1,631 shares during the quarter. XTX Topco Ltd’s holdings in Nabors Industries were worth $270,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NBR. Russell Investments Group Ltd. grew its position in Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 728 shares during the period. GAMMA Investing LLC grew its holdings in shares of Nabors Industries by 29.1% in 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. lifted its holdings in 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 valued at $396,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in Nabors Industries during the fourth quarter worth about $411,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

NBR stock opened at $61.95 on Friday. The company has a 50 day moving average price of $77.62 and a 200 day moving average price of $76.90. Nabors Industries Ltd. has a fifty-two week low of $59.67 and a fifty-two week 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 stock has a market capitalization of $662.99 million, a PE ratio of -4.49 and a beta of 2.12.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The firm had revenue of $742.98 million for the quarter, compared to the consensus estimate of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.26) EPS. Analysts forecast that Nabors Industries Ltd. will post -12.47 EPS for the current year.

Analyst Upgrades and Downgrades

NBR has been the subject of a number of research analyst reports. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and cut their target price for the company from $110.00 to $75.00 in a research note on Friday, September 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $114.00 price objective on shares of Nabors Industries in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Nabors Industries has an average rating of “Hold” and an average target price of $104.50.

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.