Centiva Capital LP Acquires New Shares in Nabors Industries Ltd. (NYSE:NBR)

Centiva Capital LP bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,240 shares of the oil and gas company’s stock, valued at approximately $531,000.

Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in Nabors Industries by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock valued at $8,189,000 after purchasing an additional 34,473 shares during the period. American Century Companies Inc. boosted its position in shares of Nabors Industries by 20.2% during the second quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock worth $14,250,000 after purchasing an additional 33,616 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Nabors Industries in the 2nd quarter valued at $1,242,000. Dimensional Fund Advisors LP increased its position in shares of Nabors Industries by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock valued at $20,634,000 after buying an additional 16,890 shares in the last quarter. Finally, PDT Partners LLC raised its stake in Nabors Industries by 49.7% during the 3rd quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock worth $3,008,000 after buying an additional 15,494 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Trading Down 4.6 %

NBR opened at $66.67 on Friday. The stock has a market capitalization of $636.70 million, a price-to-earnings ratio of -3.63 and a beta of 2.05. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. Nabors Industries Ltd. has a twelve month low of $59.67 and a twelve month high of $105.96. The company has a 50-day simple moving average of $74.79 and a 200 day simple moving average of $74.73.

Wall Street Analysts Forecast Growth

NBR has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a research report on Wednesday, October 16th. Citigroup upped their price target on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays dropped their price objective on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Susquehanna reduced their target price on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI dropped their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.00.

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.