Highbridge Capital Management LLC Boosts Stake in Nabors Industries Ltd. $NBR

Highbridge Capital Management LLC boosted its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 26.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,795 shares of the oil and gas company’s stock after buying an additional 104,219 shares during the period. Nabors Industries makes up about 0.9% of Highbridge Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Highbridge Capital Management LLC owned about 3.38% of Nabors Industries worth $20,100,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Nabors Industries by 244.6% during the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 631 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Nabors Industries by 58.5% in the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 533 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in Nabors Industries by 47.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock valued at $91,000 after purchasing an additional 1,044 shares in the last quarter. Osaic Holdings Inc. lifted its position in Nabors Industries by 720.6% during the second quarter. Osaic Holdings Inc. now owns 5,703 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 5,008 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Nabors Industries during the second quarter valued at $203,000. Institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $77.00 target price (up from $70.00) on shares of Nabors Industries in a report on Friday, February 13th. Wall Street Zen cut Nabors Industries from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group set a $70.00 price objective on Nabors Industries in a research note on Friday, February 13th. Barclays set a $50.00 target price on Nabors Industries and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Finally, Piper Sandler restated an “overweight” rating and set a $80.00 price target (up previously from $65.00) on shares of Nabors Industries in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nabors Industries has an average rating of “Hold” and an average price target of $64.00.

Nabors Industries Stock Up 1.9%

Shares of NBR opened at $78.05 on Friday. The firm has a market capitalization of $1.14 billion, a P/E ratio of 4.73 and a beta of 0.99. Nabors Industries Ltd. has a 12-month low of $23.27 and a 12-month high of $78.26. The company has a current ratio of 1.56, a quick ratio of 1.93 and a debt-to-equity ratio of 2.22. The firm has a fifty day moving average price of $62.27 and a 200-day moving average price of $50.01.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, topping the consensus estimate of ($2.93) by $3.10. The company had revenue of $805.13 million for the quarter, compared to the consensus estimate of $795.82 million. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($6.67) EPS. Equities research analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Nabors Industries Profile

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.