Van ECK Associates Corp Has $11.58 Million Stock Position in Nabors Industries Ltd. (NYSE:NBR)

Van ECK Associates Corp increased its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 41.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 owned about 1.89% of Nabors Industries worth $11,580,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Nabors Industries during the third quarter valued at about $45,000. R Squared Ltd bought a new position in Nabors Industries during the fourth quarter valued at about $70,000. Signaturefd LLC raised its holdings in Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 472 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Nabors Industries in the 3rd quarter worth approximately $220,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Nabors Industries by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 181 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Nabors Industries Stock Down 5.4 %

Shares of NYSE:NBR opened at $47.01 on Friday. The company’s fifty day moving average is $59.61 and its 200-day moving average is $69.59. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. Nabors Industries Ltd. has a 52 week low of $44.00 and a 52 week high of $105.96. The company has a market capitalization of $503.43 million, a PE ratio of -2.56 and a beta of 2.02.

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 net margin of 4.69% and a negative return on equity of 25.68%. Equities research analysts predict that Nabors Industries Ltd. will post -15.52 earnings per share for the current fiscal year.

Nabors Industries Company 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.