Brave Asset Management Inc. grew its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 98.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,850 shares of the oil and gas company’s stock after purchasing an additional 12,350 shares during the quarter. Brave Asset Management Inc.’s holdings in Nabors Industries were worth $170,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of NBR. Northern Trust Corp lifted its stake in shares of Nabors Industries by 6.5% during the second quarter. Northern Trust Corp now owns 2,687,018 shares of the oil and gas company’s stock worth $21,872,000 after purchasing an additional 164,058 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Nabors Industries during the second quarter worth about $1,723,000. State Street Corp lifted its stake in shares of Nabors Industries by 3.0% during the second quarter. State Street Corp now owns 8,519,273 shares of the oil and gas company’s stock worth $69,351,000 after purchasing an additional 248,054 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Nabors Industries during the second quarter worth about $3,416,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Nabors Industries by 38.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 51,070 shares of the oil and gas company’s stock worth $416,000 after purchasing an additional 14,258 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.
A number of brokerages have commented on NBR. UBS Group reduced their price objective on Nabors Industries from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Stephens began coverage on Nabors Industries in a research note on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 price objective on the stock. Piper Jaffray Companies restated a “hold” rating and set a $9.50 price objective on shares of Nabors Industries in a research note on Friday, October 27th. Cowen set a $9.00 price objective on Nabors Industries and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $10.89.
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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.
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