Ibex Investors LLC lessened its holdings in Nabors Industries Ltd. (NYSE:NBR) by 46.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 213,506 shares of the oil and gas company’s stock after selling 187,300 shares during the quarter. Ibex Investors LLC’s holdings in Nabors Industries were worth $734,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NBR. Vanguard Group Inc. raised its position in Nabors Industries by 0.8% in the third quarter. Vanguard Group Inc. now owns 31,147,447 shares of the oil and gas company’s stock valued at $191,869,000 after purchasing an additional 246,670 shares during the last quarter. Legal & General Group Plc grew its stake in Nabors Industries by 1.8% during the third quarter. Legal & General Group Plc now owns 692,229 shares of the oil and gas company’s stock worth $4,264,000 after buying an additional 12,145 shares during the period. Cerebellum GP LLC grew its stake in Nabors Industries by 193.9% during the fourth quarter. Cerebellum GP LLC now owns 91,974 shares of the oil and gas company’s stock worth $184,000 after buying an additional 60,681 shares during the period. State of Alaska Department of Revenue grew its stake in Nabors Industries by 303.7% during the fourth quarter. State of Alaska Department of Revenue now owns 145,491 shares of the oil and gas company’s stock worth $290,000 after buying an additional 109,452 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in Nabors Industries by 37.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 122,200 shares of the oil and gas company’s stock worth $244,000 after buying an additional 33,100 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

NBR stock traded up $0.06 during mid-day trading on Wednesday, reaching $3.70. 152,035 shares of the stock traded hands, compared to its average volume of 9,417,047. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.39. Nabors Industries Ltd. has a 52-week low of $1.81 and a 52-week high of $8.86. The firm has a market capitalization of $1.32 billion, a PE ratio of -2.96 and a beta of 2.28.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Nabors Industries had a negative net margin of 19.68% and a negative return on equity of 14.79%. The firm had revenue of $809.31 million for the quarter, compared to analysts’ expectations of $774.35 million. During the same period in the prior year, the company posted ($0.46) earnings per share. Nabors Industries’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Nabors Industries Ltd. will post -0.91 earnings per share for the current year.

NBR has been the subject of several research reports. Societe Generale set a $4.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a research note on Thursday, February 28th. Citigroup reduced their target price on shares of Nabors Industries from $8.00 to $6.70 and set a “buy” rating on the stock in a research report on Tuesday, March 12th. ValuEngine raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Zacks Investment Research raised shares of Nabors Industries from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Cowen cut shares of Nabors Industries from an “outperform” rating to a “market perform” rating and set a $2.75 target price on the stock. in a report on Thursday, January 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.13.

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Nabors Industries Profile

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

See Also: Insider Trading

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

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