Engineers Gate Manager LP Increases Stock Holdings in Nabors Industries Ltd. $NBR

Engineers Gate Manager LP boosted its stake in Nabors Industries Ltd. (NYSE:NBR) by 1,518.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 414,599 shares of the oil and gas company’s stock after acquiring an additional 388,976 shares during the period. Engineers Gate Manager LP’s holdings in Nabors Industries were worth $34,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NBR. Islay Capital Management LLC bought a new position in Nabors Industries in the 4th quarter worth $26,000. Quarry LP bought a new stake in shares of Nabors Industries during the 4th quarter valued at about $33,000. IFP Advisors Inc increased its position in shares of Nabors Industries by 106.6% during the second quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 225 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Nabors Industries during the fourth quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC raised its stake in Nabors Industries by 29.3% in the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock worth $54,000 after buying an additional 141 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on NBR shares. Susquehanna lowered their price objective on shares of Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Piper Sandler reiterated an “overweight” rating and set a $130.00 target price (up from $120.00) on shares of Nabors Industries in a report on Thursday, July 30th. Morgan Stanley set a $110.00 target price on Nabors Industries in a research report on Thursday, August 20th. Weiss Ratings upgraded Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded Nabors Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $102.57.

Nabors Industries Price Performance

Shares of NYSE NBR opened at $90.57 on Thursday. Nabors Industries Ltd. has a twelve month low of $36.62 and a twelve month high of $112.90. The company has a 50 day moving average of $86.12 and a 200 day moving average of $87.83. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24. The firm has a market cap of $1.45 billion, a P/E ratio of 6.74 and a beta of 1.00.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share (EPS) for the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. The business had revenue of $814.79 million for the quarter. As a group, research analysts expect that Nabors Industries Ltd. will post -3.69 EPS for the current fiscal year.

Insider Transactions at Nabors Industries

In other Nabors Industries news, Director David Tudor sold 3,200 shares of Nabors Industries stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the sale, the director owned 5,264 shares of the company’s stock, valued at approximately $485,867.20. The trade was a 37.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.32% of the company’s stock.

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.