Louisiana State Employees Retirement System Invests $367,000 in Nabors Industries Ltd. (NYSE:NBR)

Louisiana State Employees Retirement System acquired a new position in Nabors Industries Ltd. (NYSE:NBR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,500 shares of the oil and gas company’s stock, valued at approximately $367,000.

Other institutional investors have also made changes to their positions in the company. Sippican Capital Advisors bought a new stake in shares of Nabors Industries in the third quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nabors Industries by 48.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 635 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of Nabors Industries in the third quarter worth $241,000. Fox Run Management L.L.C. bought a new stake in shares of Nabors Industries in the third quarter worth $261,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Nabors Industries in the fourth quarter worth $286,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Price Performance

NYSE:NBR opened at $72.02 on Wednesday. Nabors Industries Ltd. has a one year low of $71.42 and a one year high of $141.47. The company has a market cap of $770.83 million, a P/E ratio of -5.22 and a beta of 2.33. The firm’s fifty day moving average price is $83.00 and its two-hundred day moving average price is $86.62. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.78 and a quick ratio of 1.23.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) EPS for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The company had revenue of $743.91 million during the quarter, compared to analyst estimates of $730.59 million. Equities analysts expect that Nabors Industries Ltd. will post -5.56 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on NBR. Benchmark restated a “hold” rating on shares of Nabors Industries in a report on Thursday, April 25th. Morgan Stanley lowered their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Finally, Susquehanna lowered their target price on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $127.80.

Nabors Industries 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.