7,500 Shares in Nabors Industries Ltd. $NBR Purchased by Monaco Asset Management SAM

Monaco Asset Management SAM acquired a new stake in Nabors Industries Ltd. (NYSE:NBR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,500 shares of the oil and gas company’s stock, valued at approximately $210,000.

A number of other institutional investors have also modified their holdings of NBR. Brigade Capital Management LP purchased a new position in Nabors Industries during the 1st quarter worth $37,653,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Nabors Industries by 445.5% during the first quarter. Adage Capital Partners GP L.L.C. now owns 600,000 shares of the oil and gas company’s stock valued at $25,026,000 after buying an additional 490,000 shares during the period. Apollo Management Holdings L.P. raised its holdings in shares of Nabors Industries by 26.2% in the first quarter. Apollo Management Holdings L.P. now owns 421,836 shares of the oil and gas company’s stock valued at $17,595,000 after acquiring an additional 87,552 shares in the last quarter. American Century Companies Inc. lifted its stake in Nabors Industries by 4.7% in the first quarter. American Century Companies Inc. now owns 299,206 shares of the oil and gas company’s stock worth $12,480,000 after acquiring an additional 13,391 shares during the period. Finally, Barings LLC bought a new position in Nabors Industries during the 1st quarter worth about $8,864,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NBR shares. Citigroup reissued a “neutral” rating and issued a $58.00 price objective (up previously from $38.00) on shares of Nabors Industries in a research note on Monday, November 3rd. Royal Bank Of Canada set a $66.00 target price on Nabors Industries and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Susquehanna restated a “neutral” rating and issued a $56.00 price target on shares of Nabors Industries in a report on Thursday, October 30th. Wall Street Zen raised shares of Nabors Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley set a $55.00 target price on shares of Nabors Industries and gave the company an “overweight” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $46.86.

Nabors Industries Stock Performance

Shares of NBR opened at $51.47 on Friday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.63 and a current ratio of 2.09. The stock has a 50-day moving average of $42.70 and a two-hundred day moving average of $35.24. The stock has a market cap of $749.41 million, a P/E ratio of 5.33 and a beta of 1.54. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $85.85.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.37) by ($1.30). Nabors Industries had a negative return on equity of 30.85% and a net margin of 7.08%.The firm had revenue of $818.19 million during the quarter, compared to analysts’ expectations of $824.61 million. During the same quarter in the previous year, the business earned ($6.86) earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Insider Activity at Nabors Industries

In other news, major shareholder Varde Partners Inc sold 312,378 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $41.04, for a total value of $12,819,993.12. Following the sale, the insider owned 1,406,052 shares in the company, valued at $57,704,374.08. This represents a 18.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.41% of the stock is owned by company insiders.

About Nabors Industries

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.