Shell Asset Management Co. trimmed its position in Nabors Industries Ltd. (NYSE:NBR) by 48.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,055 shares of the oil and gas company’s stock after selling 42,012 shares during the period. Shell Asset Management Co.’s holdings in Nabors Industries were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NBR. BlackRock Inc. boosted its stake in Nabors Industries by 7,474.6% in the first quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after acquiring an additional 24,486,309 shares in the last quarter. Sirios Capital Management L P boosted its stake in Nabors Industries by 246.1% in the second quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock valued at $32,844,000 after acquiring an additional 2,869,187 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nabors Industries by 16.4% in the second quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock valued at $133,828,000 after acquiring an additional 2,315,688 shares in the last quarter. FMR LLC boosted its stake in Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock valued at $69,068,000 after acquiring an additional 2,118,198 shares in the last quarter. Finally, Ardevora Asset Management LLP boosted its stake in Nabors Industries by 64.5% in the second quarter. Ardevora Asset Management LLP now owns 3,276,700 shares of the oil and gas company’s stock valued at $26,672,000 after acquiring an additional 1,284,800 shares in the last quarter. Institutional investors own 95.77% of the company’s stock.

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Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Citigroup Inc. set a $10.00 target price on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 5th. BMO Capital Markets restated a “hold” rating and issued a $8.00 target price (down from $13.00) on shares of Nabors Industries in a research note on Thursday, July 13th. SunTrust Banks, Inc. restated a “buy” rating and issued a $9.00 target price (down from $20.00) on shares of Nabors Industries in a research note on Tuesday, October 3rd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $11.50 target price on shares of Nabors Industries in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $11.64.

Nabors Industries Ltd. (NYSE NBR) opened at 5.63 on Wednesday. Nabors Industries Ltd. has a one year low of $5.32 and a one year high of $18.40. The stock’s market cap is $1.61 billion. The company’s 50 day moving average is $7.29 and its 200 day moving average is $8.11.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) EPS. On average, equities research analysts expect that Nabors Industries Ltd. will post ($1.58) EPS for the current year.

About Nabors Industries

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

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Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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