Everence Capital Management Inc. Makes New $257,000 Investment in Nabors Industries Ltd. (NYSE:NBR)

Everence Capital Management Inc. acquired a new position in shares of Nabors Industries Ltd. (NYSE:NBR) in the fourth quarter, Holdings Channel reports. The fund acquired 3,150 shares of the oil and gas company’s stock, valued at approximately $257,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pantechnicon Advisors LLP acquired a new stake in shares of Nabors Industries in the 3rd quarter valued at approximately $15,392,000. Panagora Asset Management Inc. acquired a new stake in shares of Nabors Industries in the 3rd quarter valued at approximately $2,673,000. American Century Companies Inc. lifted its holdings in shares of Nabors Industries by 11.0% in the 3rd quarter. American Century Companies Inc. now owns 115,486 shares of the oil and gas company’s stock valued at $14,221,000 after buying an additional 11,425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Nabors Industries by 48.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 635 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Nabors Industries by 9.9% in the 3rd quarter. Barclays PLC now owns 5,626 shares of the oil and gas company’s stock valued at $692,000 after buying an additional 509 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

Shares of NBR stock opened at $77.04 on Friday. The stock has a fifty day moving average price of $83.38 and a 200 day moving average price of $88.67. The stock has a market cap of $729.57 million, a PE ratio of -14.93 and a beta of 2.33. Nabors Industries Ltd. has a 1 year low of $71.42 and a 1 year high of $141.47. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.23 and a current ratio of 1.36.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($2.30). The company had revenue of $737.84 million for the quarter, compared to analysts’ expectations of $749.52 million. Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. Sell-side analysts forecast that Nabors Industries Ltd. will post -4.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Atb Cap Markets cut Nabors Industries from an “outperform” rating to a “sector perform” rating in a report on Friday, December 22nd. Benchmark cut Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Morgan Stanley reduced their price objective on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Nabors Industries in a report on Monday, April 8th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $129.60.

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.