Barings LLC Sells 32,686 Shares of Nabors Industries Ltd. $NBR

Barings LLC cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 179,841 shares of the oil and gas company’s stock after selling 32,686 shares during the quarter. Barings LLC’s holdings in Nabors Industries were worth $9,765,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NBR. Adage Capital Partners GP L.L.C. grew its stake in shares of Nabors Industries by 25.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company’s stock valued at $21,015,000 after acquiring an additional 150,000 shares during the period. Two Sigma Investments LP grew its stake in shares of Nabors Industries by 232.2% during the 3rd quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company’s stock valued at $7,595,000 after acquiring an additional 129,904 shares during the period. Highbridge Capital Management LLC grew its stake in shares of Nabors Industries by 26.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock valued at $20,100,000 after acquiring an additional 104,219 shares during the period. Millennium Management LLC boosted its holdings in Nabors Industries by 846.5% in the 3rd quarter. Millennium Management LLC now owns 112,106 shares of the oil and gas company’s stock worth $4,582,000 after buying an additional 100,262 shares during the period. Finally, BROOKFIELD Corp ON bought a new position in Nabors Industries in the 2nd quarter worth $2,170,000. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Stock Down 0.8%

NBR opened at $102.06 on Friday. The firm has a 50-day simple moving average of $93.87 and a two-hundred day simple moving average of $75.92. Nabors Industries Ltd. has a 52 week low of $27.18 and a 52 week high of $112.90. The company has a market capitalization of $1.51 billion, a PE ratio of 7.99 and a beta of 0.96. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 2.22.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.49) by $0.95. The company had revenue of $783.55 million for the quarter, compared to the consensus estimate of $769.33 million. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. Nabors Industries’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.18 earnings per share. Analysts forecast that Nabors Industries Ltd. will post -3.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NBR has been the subject of several recent analyst reports. Susquehanna reaffirmed a “neutral” rating and issued a $105.00 target price (up from $85.00) on shares of Nabors Industries in a report on Thursday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $100.00 target price (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Wall Street Zen downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Royal Bank Of Canada upped their target price on shares of Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Finally, Barclays upgraded Nabors Industries from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $65.00 to $99.00 in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $103.43.

About Nabors Industries

Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land and offshore drilling rigs, drilling equipment and related services to energy companies around the world. The company’s operations span two core segments: drilling and evaluation, which includes land‐based and platform drilling rigs as well as wellbore survey services, and wellbore technologies, offering pressure control equipment, downhole tools and specialized maintenance services. Nabors’ integrated model combines rig operations with engineered products and field support, positioning it as a full‐service provider in the upstream sector.

The company maintains a diverse, modern fleet of automated and conventional drilling rigs and has pioneered advanced drilling technologies, including automated drilling controls and managed pressure drilling systems.