Nabors Industries Ltd. (NBR) Short Interest Update

Nabors Industries Ltd. (NYSE:NBR) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 47,602,079 shares, a decline of 8.3% from the January 12th total of 51,917,459 shares. Currently, 16.6% of the company’s shares are sold short. Based on an average daily volume of 9,433,814 shares, the days-to-cover ratio is presently 5.0 days.

Several hedge funds and other institutional investors have recently bought and sold shares of NBR. BlackRock Inc. raised its holdings in Nabors Industries by 15.3% in the fourth quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock valued at $190,080,000 after acquiring an additional 3,700,602 shares in the last quarter. Prudential Financial Inc. raised its holdings in Nabors Industries by 278.9% in the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after acquiring an additional 2,915,370 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Nabors Industries by 101.4% in the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after acquiring an additional 2,354,975 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Nabors Industries by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after acquiring an additional 2,243,068 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Nabors Industries by 47.5% in the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock valued at $32,637,000 after acquiring an additional 1,302,284 shares in the last quarter. 87.23% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries (NYSE:NBR) opened at $6.59 on Wednesday. Nabors Industries has a 12-month low of $5.32 and a 12-month high of $16.06. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41. The company has a market cap of $2,090.00, a price-to-earnings ratio of -2.46 and a beta of 1.58.

NBR has been the subject of a number of recent analyst reports. Jefferies Group upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating and boosted their target price for the company from $6.19 to $9.00 in a report on Wednesday, November 8th. Royal Bank of Canada set a $8.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $6.00 price target on shares of Nabors Industries and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, Cowen set a $9.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. Nabors Industries currently has a consensus rating of “Hold” and a consensus price target of $10.89.

COPYRIGHT VIOLATION NOTICE: “Nabors Industries Ltd. (NBR) Short Interest Update” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2018/02/14/nabors-industries-ltd-nbr-short-interest-update.html.

Nabors Industries Company Profile

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.

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.

Leave a Reply