Nabors Industries Ltd. (NBR) Holdings Trimmed by Bollard Group LLC

Bollard Group LLC cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 95.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,298 shares of the oil and gas company’s stock after selling 296,881 shares during the period. Bollard Group LLC’s holdings in Nabors Industries were worth $123,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mitchell Group Inc. lifted its stake in Nabors Industries by 52.0% during the 2nd quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock valued at $22,015,000 after acquiring an additional 925,140 shares in the last quarter. Paloma Partners Management Co lifted its stake in Nabors Industries by 117.2% during the 1st quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock valued at $901,000 after acquiring an additional 37,175 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Nabors Industries by 4.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 979 shares in the last quarter. Arizona State Retirement System lifted its stake in Nabors Industries by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock valued at $981,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Strs Ohio lifted its stake in Nabors Industries by 25.7% during the 2nd quarter. Strs Ohio now owns 2,317,000 shares of the oil and gas company’s stock valued at $18,860,000 after acquiring an additional 474,000 shares in the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.

Shares of Nabors Industries Ltd. (NYSE NBR) traded up 4.26% during midday trading on Wednesday, reaching $5.87. The company had a trading volume of 3,832,166 shares. The stock’s market capitalization is $1.68 billion. The company’s 50-day moving average is $7.29 and its 200-day moving average is $8.11. Nabors Industries Ltd. has a 1-year low of $5.32 and a 1-year high of $18.40.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The firm had revenue of $662.50 million during the quarter, compared to the consensus estimate of $674.03 million. During the same period in the prior year, the company posted ($0.55) EPS. The firm’s revenue was up 27.4% compared to the same quarter last year. On average, equities research analysts forecast that Nabors Industries Ltd. will post ($1.58) EPS for the current year.

Several brokerages have weighed in on NBR. BMO Capital Markets restated a “hold” rating and set a $8.00 price objective on shares of Nabors Industries in a research note on Wednesday, September 6th. Jefferies Group LLC restated a “neutral” rating on shares of Nabors Industries in a research note on Thursday, September 7th. Zacks Investment Research upgraded Nabors Industries from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. UBS AG restated a “buy” rating and set a $11.00 price objective (down from $17.00) on shares of Nabors Industries in a research note on Thursday, July 6th. Finally, Citigroup Inc. restated a “buy” rating and set a $8.00 price objective (down from $9.00) on shares of Nabors Industries in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $11.64.

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Nabors Industries Profile

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

Institutional Ownership by Quarter for Nabors Industries (NYSE:NBR)

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