Everence Capital Management Inc. Purchases Shares of 3,150 Nabors Industries Ltd. (NYSE:NBR)

Everence Capital Management Inc. purchased a new stake in Nabors Industries Ltd. (NYSE:NBR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,150 shares of the oil and gas company’s stock, valued at approximately $257,000.

A number of other large investors also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Nabors Industries in the first quarter valued at approximately $25,000. US Bancorp DE increased its position in shares of Nabors Industries by 72.1% in the second quarter. US Bancorp DE now owns 389 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 163 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Nabors Industries by 89.6% in the third quarter. Tower Research Capital LLC TRC now owns 565 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 267 shares in the last quarter. Royal Bank of Canada increased its position in shares of Nabors Industries by 43.1% in the third quarter. Royal Bank of Canada now owns 793 shares of the oil and gas company’s stock valued at $80,000 after buying an additional 239 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Nabors Industries by 55.6% in the fourth quarter. State of Wyoming now owns 585 shares of the oil and gas company’s stock valued at $91,000 after buying an additional 209 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Stock Up 2.6 %

Shares of NYSE:NBR opened at $77.04 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.36 and a debt-to-equity ratio of 4.63. The business has a fifty day moving average of $83.38 and a two-hundred day moving average of $88.67. The stock has a market cap of $729.57 million, a P/E ratio of -14.93 and a beta of 2.33. Nabors Industries Ltd. has a 52-week low of $71.42 and a 52-week high of $141.47.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($2.30). The company had revenue of $737.84 million during the quarter, compared to analysts’ expectations of $749.52 million. Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. On average, research analysts expect that Nabors Industries Ltd. will post -4.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

NBR has been the subject of a number of recent analyst reports. Benchmark cut Nabors Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Susquehanna reiterated a “neutral” rating and set a $88.00 price target on shares of Nabors Industries in a research report on Monday, April 8th. Morgan Stanley dropped their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, February 12th. Finally, Atb Cap Markets cut Nabors Industries from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and a consensus target price of $129.60.

Nabors Industries Profile

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.