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Nuveen Asset Management LLC increased its stake in Nabors Industries Ltd. (NYSE: NBR – Get Rating) by 18.7% in the third quarter, according to its latest Form 13F filed with the SEC. The fund owned his 76,869 shares of oil and gas company stock after purchasing a further 12,111 shares during the period. Nuveen Asset Management LLC owned his 0.82% of Nabors Industries worth $7,798,000 as of the latest filing with the SEC.
Several other large investors have also recently bought and sold shares in NBR. ProShare Advisors LLC acquired a new position worth approximately $243,000 in Nabors Industries in the first quarter. Raymond James & Associates said in the first quarter he won a new position at Nabors Industries worth about $213,000. Raymond James Financial Services Advisors Inc. acquired a new position worth approximately $251,000 in Nabors Industries in the first quarter. Bank of New York Mellon Corp boosted his position in Nabors Industries by 1.2% in the first quarter. Bank of New York Mellon Corporation owns 73,869 shares of oil and gas company valued at $11,281,000 after purchasing an additional 907 shares during the previous quarter. Finally, PNC Financial Services Group Inc. increased its position in Nabors Industries by 108.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,779 shares of oil and gas company valued at $576,000 after purchasing an additional 1,967 shares during the previous quarter. 71.98% of the shares are owned by institutional investors and hedge funds.
Analyst upgrades and downgrades
Several analysts have published reports on the company. Morgan Stanley raised its price target for Nabors Industries from her $140.00 to her $175.00, giving the company an “underweight” rating in its research notes on Wednesday, Jan. 4. Susquehanna raised Nabors Industries’ price target to $215.00 from her $189.00, giving the company a “neutral” rating in a research note on Thursday, February 9. Royal Bank of Canada raised its price target for Nabors Industries from $193.00 to $215.00, giving the company a ‘sector perform’ rating in its research note on Thursday, February 9. Benchmark featured her Nabors Industries in a research note on Thursday, January 19th. They issued a “Hold” rating on the stock. Finally, Barclays raised his price target for Nabors Industries from $200.00 to $250.00, giving the company an “overweight” rating in a research note on Friday, February 10. Two investment analysts gave a sell rating to the stock, six gave a hold rating, and two issued a buy rating to the stock. According to MarketBeat data, the stock has a consensus rating of “Hold” and a consensus price target of $199.86.
Nabors Industries deals down 2.0%
NBR shares opened at $133.44 on Friday. The stock has a 50-day moving average price of $162.44 and a 200-day moving average price of $148.78. The company has a market capitalization of $1.26 billion, a PE ratio of -3.21 and a beta of 2.78. Nabors Industries Ltd. has a 52-week low of $92.66 and a 52-week high of $207.67. The company has an equity ratio of 4.73, a quick ratio of 1.46 and a current ratio of 1.68.
Nabors Industries Company Profile
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Nabors Industries Ltd. is engaged in providing platform work and drilling rigs. We also offer performance tools, directional drilling services, tubular running services, and innovative technology. The company operates through its U.S. Drilling, Canadian Drilling, International Drilling, Drilling Solutions, and Rig Technology business segments.
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