Entropy Technologies LP Takes $600,000 Position in Nabors Industries Ltd. (NYSE:NBR)

Entropy Technologies LP acquired a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 9,299 shares of the oil and gas company’s stock, valued at approximately $600,000.

Several other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC lifted its stake in Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 472 shares in the last quarter. nVerses Capital LLC bought a new stake in Nabors Industries in the 3rd quarter valued at approximately $45,000. Inspire Investing LLC bought a new stake in Nabors Industries in the 3rd quarter valued at approximately $411,000. SG Americas Securities LLC lifted its stake in Nabors Industries by 79.6% in the 3rd quarter. SG Americas Securities LLC now owns 4,017 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 1,780 shares in the last quarter. Finally, Creative Planning lifted its stake in Nabors Industries by 62.3% in the 2nd quarter. Creative Planning now owns 8,756 shares of the oil and gas company’s stock valued at $623,000 after acquiring an additional 3,360 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Down 2.9 %

NBR stock opened at $74.11 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. The firm has a market capitalization of $707.60 million, a PE ratio of -4.03 and a beta of 2.09. Nabors Industries Ltd. has a 1-year low of $59.67 and a 1-year high of $105.96. The business’s 50 day simple moving average is $72.69 and its 200 day simple moving average is $74.97.

Analyst Ratings Changes

Several equities research analysts have commented on NBR shares. Evercore ISI cut their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note on Thursday, October 24th. Susquehanna cut their target price on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Barclays lowered their price target on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Citigroup boosted their price target on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and an average price target of $97.00.

Nabors Industries Company 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.