The short-term stake in Nabors Industries Ltd. (NYSE:NBR) rises 26.1%

Nabors Industries Ltd. (NYSE:NBR – Get Rating) saw a significant increase in short-term interest in the month of March. As of March 15, there was short interest totaling 664,400 shares, an increase of 26.1% from the February 28 total of 527,000 shares. Based on an average daily volume of 184,900 shares, the short interest ratio is currently 3.6 days. Currently, 8.7% of the stock’s shares are sold short.

NBR has been the subject of several research reports. StockNews.com threw coverage on Nabors Industries in a research report on Thursday. They issued a “hold” rating on the stock. Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and reduced its price target for the stock from $175.00 to $115.00 in a Monday, March 14 research report. Finally, Capital One Financial reiterated an “equal weight” rating on Nabors Industries shares in a Thursday, March 17 research report. One analyst has assigned the stock a sell rating, five have issued a hold rating and one has issued a buy rating for the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $107.50.

NYSE NBR shares opened at $152.72 on Friday. Nabors Industries has a 12-month low of $65.58 and a 12-month high of $171.26. The company has a current ratio of 2.89, a quick ratio of 2.65 and a debt ratio of 4.54. The stock has a fifty-day simple moving average of $132.82 and a 200-day simple moving average of $107.92. The stock has a market capitalization of $1.31 billion, a PE ratio of -1.98 and a beta of 3.04.

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Nabors Industries (NYSE:NBR – Get Rating) last released quarterly earnings data on Tuesday, February 8. The oil and gas company reported ($14.60) earnings per share for the quarter, missing the Zacks consensus estimate of ($10.98) by ($3.62). Nabors Industries has a negative net margin of 28.19% and a negative return on equity of 54.43%. The company posted revenue of $543.70 million in the quarter, compared to analyst estimates of $550.96 million. During the same period of the previous year, the company posted ($23.82) earnings per share. On average, equity analysts expect Nabors Industries to post -30.48 earnings per share for the current year.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Nabors Industries during the 4th quarter for a value of approximately $33,000. PSI Advisors LLC acquired a new stake in Nabors Industries during Q3 for a value of approximately $56,000. US Asset Management LLC acquired a new stake in Nabors Industries during Q3 for a value of approximately $110,000. Allspring Global Investments Holdings LLC acquired a new stake in Nabors Industries during Q4 valued at approximately $139,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new equity stake in Nabors Industries in Q3 valued at around $203,000. 76.66% of the shares are held by hedge funds and other institutional investors.

About Nabors Industries (Get a rating)

Nabors Industries Ltd. provides drilling and drilling services for onshore and offshore oil and natural gas wells. The Company operates through five segments: US Drilling, Canada Drilling, International Drilling, Drilling Solutions and Rig Technologies. It provides services in tubular operation, wellbore placement, directional drilling, measurement-while-drilling (MWD), drilling equipment and instrumentation manufacturing; and logging-while-drilling systems and services, as well as drilling optimization software.

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