DRW Securities LLC Takes $234,000 Position in Nabors Industries Ltd. (NYSE:NBR)

DRW Securities LLC bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,093 shares of the oil and gas company’s stock, valued at approximately $234,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after buying an additional 42,483 shares during the last quarter. Bryce Point Capital LLC purchased a new position in Nabors Industries in the 4th quarter worth $556,000. Proficio Capital Partners LLC acquired a new stake in Nabors Industries during the 4th quarter worth about $664,000. HighTower Advisors LLC grew its stake in Nabors Industries by 152.8% during the 4th quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company’s stock valued at $1,585,000 after purchasing an additional 16,761 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Nabors Industries by 12.0% in the fourth quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company’s stock valued at $16,340,000 after purchasing an additional 30,537 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBR has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Susquehanna cut their price objective on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays decreased their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.33.

Nabors Industries Stock Performance

NYSE:NBR opened at $28.71 on Friday. Nabors Industries Ltd. has a 52 week low of $25.11 and a 52 week high of $105.96. The company has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $59.04. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The company has a market cap of $275.73 million, a price-to-earnings ratio of -1.28 and a beta of 1.49.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. As a group, equities analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

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.