David Tudor Sells 3,200 Shares of Nabors Industries (NYSE:NBR) Stock

Nabors Industries Ltd. (NYSE:NBR) Director David Tudor sold 3,200 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the transaction, the director directly owned 5,264 shares of the company’s stock, valued at $485,867.20. This represents a 37.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Nabors Industries Stock Up 0.3%

Shares of NYSE NBR traded up $0.23 during mid-day trading on Friday, hitting $91.89. 216,588 shares of the stock traded hands, compared to its average volume of 329,993. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.75 and a current ratio of 1.89. Nabors Industries Ltd. has a 52 week low of $34.70 and a 52 week high of $112.90. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 6.84 and a beta of 0.98. The stock has a fifty day moving average price of $84.59 and a 200-day moving average price of $86.44.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Barclays set a $93.00 price target on Nabors Industries and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Finally, Zacks Research downgraded Nabors Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $102.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of Nabors Industries by 9,671.6% during the second quarter. California State Teachers Retirement System now owns 1,022,402 shares of the oil and gas company’s stock valued at $85,892,000 after buying an additional 1,011,939 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Nabors Industries by 62.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company’s stock valued at $68,418,000 after acquiring an additional 485,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Nabors Industries by 42.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company’s stock valued at $38,545,000 after acquiring an additional 132,747 shares in the last quarter. Two Sigma Investments LP boosted its stake in 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 purchasing an additional 129,904 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Nabors Industries by 446.9% during the 4th quarter. Marshall Wace LLP now owns 132,715 shares of the oil and gas company’s stock valued at $7,206,000 after purchasing an additional 108,447 shares during the last quarter. Institutional investors own 81.92% 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.