HRT Financial LP cut its holdings in Nabors Industries Ltd. (NYSE:NBR – Get Rating) by 31.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,596 shares of the oil and gas company’s stock after selling 2,131 shares during the quarter. HRT Financial LP’s holdings in Nabors Industries were worth $711,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Nabors Industries by 5.7% in the third quarter. Renaissance Technologies LLC now owns 98,700 shares of the oil and gas company’s stock valued at $10,013,000 after buying an additional 5,300 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of Nabors Industries in the third quarter valued at approximately $365,000. Arizona State Retirement System boosted its stake in shares of Nabors Industries by 10.1% in the third quarter. Arizona State Retirement System now owns 2,430 shares of the oil and gas company’s stock valued at $247,000 after buying an additional 223 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of Nabors Industries by 21.4% in the third quarter. Edgestream Partners L.P. now owns 36,353 shares of the oil and gas company’s stock valued at $3,688,000 after buying an additional 6,402 shares in the last quarter. Finally, Elm Ridge Management LLC boosted its stake in shares of Nabors Industries by 33.0% in the third quarter. Elm Ridge Management LLC now owns 14,885 shares of the oil and gas company’s stock valued at $1,510,000 after buying an additional 3,697 shares in the last quarter. 71.98% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NBR has been the subject of several research reports. Susquehanna reduced their price objective on Nabors Industries from $110.00 to $91.00 in a report on Friday. Morgan Stanley raised Nabors Industries from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $175.00 to $165.00 in a report on Tuesday, April 18th. Royal Bank of Canada reduced their price objective on Nabors Industries from $195.00 to $176.00 in a report on Wednesday, April 26th. StockNews.com cut Nabors Industries from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Finally, 888 reaffirmed a “maintains” rating on shares of Nabors Industries in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $152.29.
Nabors Industries Stock Performance
Nabors Industries Profile
Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It also provides performance tools, directional drilling services, tubular running services, and innovative technologies. It operates through the following business segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies.
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