Nabors Industries Ltd. (NBR) Stake Lifted by ING Groep NV
ING Groep NV lifted its holdings in Nabors Industries Ltd. (NYSE:NBR) by 36.9% during the 4th quarter, HoldingsChannel reports. The fund owned 47,922 shares of the oil and gas company’s stock after acquiring an additional 12,919 shares during the quarter. ING Groep NV’s holdings in Nabors Industries were worth $327,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Brave Asset Management Inc. acquired a new position in Nabors Industries during the 3rd quarter worth $101,000. Oakbrook Investments LLC acquired a new position in Nabors Industries during the 4th quarter worth $103,000. State of Alaska Department of Revenue acquired a new position in Nabors Industries during the 4th quarter worth $109,000. Cetera Advisors LLC acquired a new position in Nabors Industries during the 3rd quarter worth $115,000. Finally, Clear Harbor Asset Management LLC acquired a new position in Nabors Industries during the 3rd quarter worth $121,000. 86.69% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on NBR. Stephens began coverage on Nabors Industries in a report on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 price objective on the stock. Bank of America reduced their price objective on Nabors Industries from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Finally, Morgan Stanley reduced their price objective on Nabors Industries from $9.00 to $8.50 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.89.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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