Nabors Industries Ltd. (NYSE:NBR) Short Interest Down 18.4% in January

Nabors Industries Ltd. (NYSE:NBR) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 1,150,000 shares, a decrease of 18.4% from the December 31st total of 1,410,000 shares. Currently, 13.7% of the company’s shares are short sold. Based on an average daily volume of 326,600 shares, the days-to-cover ratio is currently 3.5 days.

Nabors Industries Stock Down 3.1 %

Shares of NBR stock traded down $1.77 on Monday, hitting $55.45. The stock had a trading volume of 252,955 shares, compared to its average volume of 255,317. The business has a 50 day moving average of $62.82 and a 200 day moving average of $71.82. The stock has a market cap of $593.86 million, a price-to-earnings ratio of -3.02 and a beta of 2.05. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. Nabors Industries has a 12-month low of $50.15 and a 12-month high of $105.96.

Institutional Trading of Nabors Industries

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Nabors Industries by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after buying an additional 16,890 shares during the last quarter. Geode Capital Management LLC increased its holdings in Nabors Industries by 1.5% during the third quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company’s stock worth $13,286,000 after buying an additional 3,054 shares during the last quarter. Van ECK Associates Corp boosted its position in Nabors Industries by 41.0% during the fourth quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock worth $11,580,000 after purchasing an additional 58,946 shares during the period. Barclays PLC boosted its position in Nabors Industries by 60.8% during the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after purchasing an additional 42,483 shares during the period. Finally, FMR LLC boosted its position in Nabors Industries by 10.6% during the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock worth $3,339,000 after purchasing an additional 4,949 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

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