Bank of Montreal Can lessened its holdings in Nabors Industries Ltd. (NYSE:NBR) by 96.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,829 shares of the oil and gas company’s stock after selling 55,534 shares during the period. Bank of Montreal Can’s holdings in Nabors Industries were worth $59,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NBR. M&T Bank Corp bought a new position in shares of Nabors Industries during the first quarter valued at about $1,330,000. Nisa Investment Advisors LLC bought a new stake in Nabors Industries in the 2nd quarter worth approximately $448,000. Cerebellum GP LLC bought a new stake in shares of Nabors Industries during the 2nd quarter valued at $87,000. Tudor Investment Corp Et Al bought a new stake in shares of Nabors Industries during the 1st quarter valued at $41,000. Finally, Jane Street Group LLC grew its position in shares of Nabors Industries by 267.8% during the 1st quarter. Jane Street Group LLC now owns 143,323 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 104,360 shares during the period. Institutional investors own 56.07% of the company’s stock.
Nabors Industries stock opened at $23.34 on Friday. The company’s 50 day simple moving average is $34.30 and its 200-day simple moving average is $28.03. The company has a market capitalization of $195.73 million, a price-to-earnings ratio of -0.17 and a beta of 3.24. Nabors Industries Ltd. has a 1 year low of $9.79 and a 1 year high of $167.50. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.88 and a current ratio of 2.20.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, July 28th. The oil and gas company reported ($14.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($26.40) by $11.95. The firm had revenue of $535.97 million during the quarter, compared to analysts’ expectations of $540.71 million. Nabors Industries had a negative net margin of 33.84% and a negative return on equity of 21.14%. Equities analysts expect that Nabors Industries Ltd. will post -78.21 earnings per share for the current year.
Several brokerages have commented on NBR. AltaCorp Capital cut shares of Nabors Industries from a “sector perform” rating to an “underperform” rating and set a $17.50 price target on the stock. in a research note on Friday, July 10th. Goldman Sachs Group downgraded shares of Nabors Industries from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $65.00 to $45.00 in a research note on Wednesday, August 12th. ValuEngine downgraded shares of Nabors Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 8th. Citigroup cut shares of Nabors Industries from a “neutral” rating to a “sell” rating and set a $35.00 target price for the company. in a research report on Tuesday, August 18th. Finally, Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $12.00 to $42.00 in a research report on Monday, August 3rd. Eleven research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $59.96.
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.
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