SG Americas Securities LLC lowered its holdings in Nabors Industries Ltd. (NYSE:NBR – Get Rating) by 29.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,900 shares of the oil and gas company's stock after selling 3,222 shares during the period. SG Americas Securities LLC's holdings in Nabors Industries were worth $1,206,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC increased its position in shares of Nabors Industries by 73.3% in the first quarter. Lindbrook Capital LLC now owns 182 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 77 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Nabors Industries by 2.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 3,800 shares of the oil and gas company's stock valued at $724,000 after buying an additional 100 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Nabors Industries by 2.1% during the 4th quarter. New York State Common Retirement Fund now owns 4,987 shares of the oil and gas company's stock worth $404,000 after acquiring an additional 101 shares during the last quarter. New York State Teachers Retirement System grew its position in Nabors Industries by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 9,985 shares of the oil and gas company's stock worth $810,000 after acquiring an additional 200 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Nabors Industries by 9.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,932 shares of the oil and gas company's stock valued at $238,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NBR shares. Susquehanna Bancshares dropped their price target on Nabors Industries from $170.00 to $21.00 and set a "neutral" rating for the company in a research note on Wednesday, June 8th. Morgan Stanley reduced their price target on shares of Nabors Industries from $150.00 to $125.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 13th. Barclays boosted their price objective on shares of Nabors Industries from $132.00 to $180.00 in a report on Monday, May 2nd. Finally, Susquehanna decreased their target price on shares of Nabors Industries from $170.00 to $21.00 in a research report on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $93.67.

Nabors Industries Trading Up 6.3 %

Nabors Industries (NYSE:NBR – Get Rating) last posted its earnings results on Wednesday, April 27th. The oil and gas company reported ($13.88) earnings per share for the quarter, missing analysts' consensus estimates of ($8.95) by ($4.93). Nabors Industries had a negative return on equity of 59.04% and a negative net margin of 29.01%. The firm had revenue of $568.70 million for the quarter, compared to analysts' expectations of $561.32 million. On average, research analysts anticipate that Nabors Industries Ltd. will post -26.73 EPS for the current year.

About Nabors Industries

(Get Rating)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

Further Reading

• Get a free copy of the StockNews.com research report on Nabors Industries (NBR)
• MarketBeat: Week in Review 7/25 – 7/29
• Procter's Earnings Start To Show Weakness In Q4
• The One Question You Have to Ask Before Investing in INTC Stock
• Home Depot: A Beautiful Boring Stock to Navigate a Bear Market
• Could CRISPR Therapeutics be a Moonshot Hiding in Plain Sight?

Want to see what other hedge funds are holding NBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nabors Industries Ltd. (NYSE:NBR – Get Rating).

Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.