Barclays PLC Boosts Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Barclays PLC lifted its position in Nabors Industries Ltd. (NYSE:NBR) by 60.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,318 shares of the oil and gas company’s stock after purchasing an additional 42,483 shares during the period. Barclays PLC owned about 1.18% of Nabors Industries worth $7,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after acquiring an additional 16,890 shares during the period. American Century Companies Inc. increased its stake in shares of Nabors Industries by 20.2% in the 2nd quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock valued at $14,250,000 after purchasing an additional 33,616 shares in the last quarter. Van ECK Associates Corp raised its holdings in Nabors Industries by 6.8% in the 2nd quarter. Van ECK Associates Corp now owns 197,177 shares of the oil and gas company’s stock worth $14,031,000 after purchasing an additional 12,622 shares during the period. Bank of New York Mellon Corp boosted 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 worth $8,189,000 after purchasing an additional 34,473 shares in the last quarter. Finally, FMR LLC grew its holdings in Nabors Industries by 10.6% in the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock valued at $3,339,000 after purchasing an additional 4,949 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NBR has been the subject of several research analyst reports. Citigroup upped their target price on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays reduced their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th. Susquehanna reduced their price target 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. Finally, 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. Seven 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 presently has a consensus rating of “Hold” and an average price target of $97.00.

Nabors Industries Stock Performance

NYSE:NBR opened at $56.12 on Thursday. The company has a market cap of $600.99 million, a P/E ratio of -3.05 and a beta of 2.05. Nabors Industries Ltd. has a twelve month low of $55.45 and a twelve month high of $105.96. The company’s 50-day moving average price is $73.17 and its 200-day moving average price is $74.21. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43.

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.