HighTower Advisors LLC Grows Position in Nabors Industries Ltd. (NYSE:NBR)

HighTower Advisors LLC grew its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 152.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,727 shares of the oil and gas company’s stock after purchasing an additional 16,761 shares during the period. HighTower Advisors LLC’s holdings in Nabors Industries were worth $1,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NBR. Barclays PLC grew its stake in shares of Nabors Industries by 60.8% during the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after buying an additional 42,483 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Nabors Industries in the fourth quarter worth about $664,000. Centiva Capital LP bought a new stake in shares of Nabors Industries in the third quarter worth about $531,000. Van ECK Associates Corp lifted its stake in Nabors Industries by 41.0% in the fourth quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock worth $11,580,000 after acquiring an additional 58,946 shares during the period. Finally, Entropy Technologies LP raised its stake in Nabors Industries by 65.5% in the fourth quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company’s stock worth $880,000 after buying an additional 6,095 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Stock Down 0.6 %

NBR opened at $43.27 on Tuesday. The stock has a market capitalization of $415.53 million, a price-to-earnings ratio of -1.93 and a beta of 2.08. The firm has a 50 day moving average price of $50.35 and a 200-day moving average price of $62.44. Nabors Industries Ltd. has a twelve month low of $34.42 and a twelve month high of $105.96. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data 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%. Equities research analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.