Cubist Systematic Strategies LLC Invests $2.21 Million in Nabors Industries Ltd. (NYSE:NBR)

Cubist Systematic Strategies LLC purchased a new stake in Nabors Industries Ltd. (NYSE:NBR) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 38,595 shares of the oil and gas company’s stock, valued at approximately $2,207,000. Cubist Systematic Strategies LLC owned 0.36% of Nabors Industries at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NBR. US Bancorp DE increased its holdings in shares of Nabors Industries by 234.9% in the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 505 shares during the period. R Squared Ltd purchased a new position in shares of Nabors Industries in the 4th quarter valued at $70,000. KLP Kapitalforvaltning AS purchased a new position in shares of Nabors Industries in the 4th quarter valued at $97,000. DRW Securities LLC purchased a new position in shares of Nabors Industries in the 4th quarter valued at $234,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Nabors Industries in the 4th quarter valued at $284,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Trading Up 8.2%

Shares of NBR stock opened at $29.14 on Monday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The stock has a 50 day simple moving average of $34.37 and a 200-day simple moving average of $52.65. The company has a market cap of $279.86 million, a price-to-earnings ratio of -1.30 and a beta of 1.96. Nabors Industries Ltd. has a 1-year low of $25.11 and a 1-year high of $105.96.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The company had revenue of $742.78 million during the quarter, compared to analysts’ expectations of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($4.54) earnings per share. On average, equities research analysts expect that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NBR has been the topic of several research analyst reports. Susquehanna dropped their target price on Nabors Industries from $32.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley lowered their price target on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Royal Bank of Canada lowered their price target on Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating for the company in a report on Thursday, May 1st. Finally, Barclays lowered their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.17.

About Nabors Industries

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.