PDT Partners LLC Boosts Stake in Nabors Industries Ltd. (NYSE:NBR)

PDT Partners LLC raised its position in Nabors Industries Ltd. (NYSE:NBR) by 49.7% during the third quarter, Holdings Channel reports. The firm owned 46,659 shares of the oil and gas company’s stock after buying an additional 15,494 shares during the quarter. PDT Partners LLC’s holdings in Nabors Industries were worth $3,008,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Nabors Industries in the 3rd quarter valued at $45,000. Russell Investments Group Ltd. grew its position in Nabors Industries by 2,022.2% in the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 728 shares in the last quarter. Signaturefd LLC increased its stake in Nabors Industries by 52.9% during the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 472 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Nabors Industries during the second quarter worth about $159,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Nabors Industries by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after purchasing an additional 181 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

NYSE:NBR opened at $73.21 on Friday. Nabors Industries Ltd. has a 12 month low of $59.67 and a 12 month high of $105.96. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. The firm has a market capitalization of $699.16 million, a PE ratio of -4.03 and a beta of 2.09. The business’s fifty day moving average price is $74.25 and its 200 day moving average price is $74.95.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NBR shares. Barclays cut their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a research note on Wednesday, October 16th. Evercore ISI lowered their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday, October 24th. Susquehanna cut their price target on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup lifted their price objective on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.00.

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.