Van ECK Associates Corp Purchases 58,946 Shares of Nabors Industries Ltd. (NYSE:NBR)

Van ECK Associates Corp lifted its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 41.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,552 shares of the oil and gas company’s stock after acquiring an additional 58,946 shares during the quarter. Van ECK Associates Corp’s holdings in Nabors Industries were worth $11,580,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Barclays PLC raised its holdings in Nabors Industries by 60.8% during the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after purchasing an additional 42,483 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Nabors Industries during the 3rd quarter worth approximately $531,000. Entropy Technologies LP acquired a new stake in shares of Nabors Industries during the 3rd quarter worth approximately $600,000. Intech Investment Management LLC raised its stake in shares of Nabors Industries by 6.4% during the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after buying an additional 322 shares during the last quarter. Finally, FMR LLC lifted its holdings in Nabors Industries by 10.6% in the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock valued at $3,339,000 after buying an additional 4,949 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

NBR has been the subject of several recent research reports. Citigroup upped their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI dropped their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a report on Thursday, October 24th. Finally, Susquehanna reduced their target price on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and a consensus price target of $86.40.

Nabors Industries Stock Performance

Shares of Nabors Industries stock opened at $47.01 on Friday. The stock’s fifty day simple moving average is $59.61 and its 200 day simple moving average is $69.59. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. The company has a market capitalization of $503.43 million, a PE ratio of -2.56 and a beta of 2.02. Nabors Industries Ltd. has a 12 month low of $44.00 and a 12 month high of $105.96.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 25.68% and a negative net margin of 4.69%. On average, research analysts predict that Nabors Industries Ltd. will post -15.52 EPS for the current 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.