Noteworthy Ownership Action: Nabors Industries LTD (NYSE:NBR) Institutional Investors Sentiment Change

November 28, 2016 - By Marie Mckinney   ·   0 Comments

Noteworthy Ownership Action: Nabors Industries LTD (NYSE:NBR) Institutional Investors Sentiment Change

Sentiment for Nabors Industries LTD (NYSE:NBR)

Nabors Industries LTD (NYSE:NBR) institutional sentiment increased to 1.26 in 2016 Q2. Its up 0.37, from 0.89 in 2016Q1. The ratio is better, as 119 hedge funds started new or increased positions, while 134 sold and reduced stakes in Nabors Industries LTD. The hedge funds in our partner’s database now own: 259.64 million shares, up from 258.40 million shares in 2016Q1. Also, the number of hedge funds holding Nabors Industries LTD in their top 10 positions decreased from 2 to 1 for a decrease of 1. Sold All: 28 Reduced: 106 Increased: 85 New Position: 34.

Nabors Industries Ltd. owns and operates a land drilling rig fleet in North America. The company has a market cap of $3.77 billion. The Firm is a well-known provider of offshore platform work over and drilling rigs. It currently has negative earnings. It conducts its Drilling & Rig Services business through four divisions: U.S.

About 6.49 million shares traded hands. Nabors Industries Ltd. (NYSE:NBR) has risen 37.80% since April 25, 2016 and is uptrending. It has outperformed by 31.79% the S&P500.

Analysts await Nabors Industries Ltd. (NYSE:NBR) to report earnings on February, 21. They expect $-0.33 EPS, down 50.00% or $0.11 from last year’s $-0.22 per share. After $-0.35 actual EPS reported by Nabors Industries Ltd. for the previous quarter, Wall Street now forecasts -5.71% EPS growth.

According to Zacks Investment Research, “Nabors Industries, Inc. is one of the largest land drilling contractors. Nabors conducts oil, gas and geothermal land drilling operations in the U.S. and internationally. Nabors also is one of the largest land well-servicing and workover contractors in the United States. To further supplement its primary business, it offers a number of ancillary well-site services, including oilfield management, engineering, transportation, construction, maintenance, well logging and other support services, in selected domestic and international markets.”

Sir Capital Management L.P. holds 4.63% of its portfolio in Nabors Industries Ltd. for 3.09 million shares. Morgens Waterfall Vintiadis & Co Inc owns 240,000 shares or 2.23% of their US portfolio. Moreover, Elm Ridge Management Llc has 1.68% invested in the company for 692,551 shares. The Isle Of Man-based Oceanic Investment Management Ltd has invested 1.36% in the stock. Sasco Capital Inc Ct, a Connecticut-based fund reported 5.28 million shares.#img1#

Nabors Industries Ltd. (NYSE:NBR) Ratings Coverage

Ratings analysis reveals 83% of Nabors Industries Ltd.’s analysts are positive. Out of 18 Wall Street analysts rating Nabors Industries Ltd., 15 give it “Buy”, 0 “Sell” rating, while 3 recommend “Hold”. The lowest target is $7 while the high is $17. The stock’s average target of $11.24 is -16.86% below today’s ($13.52) share price. NBR was included in 54 notes of analysts from August 6, 2015. The stock of Nabors Industries Ltd. (NYSE:NBR) has “Overweight” rating given on Monday, September 19 by CapitalOne. The rating was maintained by Howard Weil with “Sector Perform” on Monday, November 2. Citigroup maintained Nabors Industries Ltd. (NYSE:NBR) rating on Monday, October 5. Citigroup has “Neutral” rating and $10.50 price target. The stock of Nabors Industries Ltd. (NYSE:NBR) has “Overweight” rating given on Tuesday, April 19 by Morgan Stanley. The rating was maintained by Citigroup on Friday, March 18 with “Buy”. As per Monday, November 2, the company rating was maintained by Deutsche Bank. Citigroup maintained the shares of NBR in a report on Wednesday, October 5 with “Buy” rating. Credit Suisse upgraded the shares of NBR in a report on Monday, December 21 to “Outperform” rating. As per Wednesday, March 9, the company rating was maintained by Susquehanna. DA Davidson initiated the stock with “Buy” rating in Thursday, September 15 report.

NBR Company Profile

Nabors Industries Ltd., incorporated on December 11, 2001, owns and operates a land drilling rig fleet in North America. The Firm is a well-known provider of offshore platform work over and drilling rigs in the United States and multiple international markets. The Firm conducts its Drilling & Rig Services business through four divisions: U.S. Drilling, Canada Drilling, International Drilling and Rig Services. The Company’s fleet of rigs and drilling-related equipment includes approximately 430 actively marketed rigs for land drilling activities in the United States, Canada and over 20 other countries throughout the world, and approximately 40 actively marketed rigs for offshore drilling activities in the United States and multiple international markets. The Firm provides drilling technology and equipment, and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. In addition, the Company makes and leases or sells top drives and other rig equipment.

More news for Nabors Industries Ltd. (NYSE:NBR) were recently published by: Fool.com, which released: “Better Buy: Helmerich & Payne, Inc. vs. Nabors Industries Ltd.” on July 18, 2016. Prnewswire.com‘s article titled: “Nabors Industries Ltd. First Quarter 2016 Earnings Conference Call Invitation” and published on April 01, 2016 is yet another important article.

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By Marie Mckinney


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