State Street Corp Sells 2,315 Shares of Nabors Industries Ltd. (NYSE:NBR)

State Street Corp lessened its holdings in Nabors Industries Ltd. (NYSE:NBR) by 0.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 415,573 shares of the oil and gas company’s stock after selling 2,315 shares during the period. State Street Corp’s holdings in Nabors Industries were worth $26,792,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NBR. Centiva Capital LP bought a new position in Nabors Industries in the 3rd quarter worth about $531,000. Atom Investors LP bought a new position in shares of Nabors Industries in the third quarter worth approximately $332,000. PDT Partners LLC increased its position in shares of Nabors Industries by 49.7% in the third quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock worth $3,008,000 after purchasing an additional 15,494 shares during the last quarter. FMR LLC raised its stake 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 in the last quarter. Finally, Intech Investment Management LLC lifted its position in Nabors Industries by 6.4% during 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 during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Down 1.9 %

NBR opened at $53.77 on Monday. Nabors Industries Ltd. has a 12 month low of $53.45 and a 12 month high of $105.96. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. The business’s 50-day moving average price is $72.20 and its 200-day moving average price is $74.02. The company has a market cap of $575.82 million, a P/E ratio of -2.92 and a beta of 2.05.

Analysts Set New Price Targets

A number of brokerages have recently commented on NBR. Citigroup increased their price target on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Evercore ISI reduced their target price on 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. Barclays dropped their price target on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Susquehanna reduced their price objective on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and a consensus price target of $97.00.

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.