Tejara Capital Ltd Lowers Stake in Nabors Industries Ltd. $NBR

Tejara Capital Ltd trimmed its holdings in Nabors Industries Ltd. (NYSE:NBR) by 60.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 26,941 shares of the oil and gas company’s stock after selling 40,388 shares during the period. Tejara Capital Ltd’s holdings in Nabors Industries were worth $1,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NBR. American Century Companies Inc. increased its position in Nabors Industries by 10.3% in the 3rd quarter. American Century Companies Inc. now owns 354,901 shares of the oil and gas company’s stock valued at $14,505,000 after acquiring an additional 33,101 shares during the period. Highbridge Capital Management LLC lifted its position in 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 worth $20,100,000 after acquiring an additional 104,219 shares during the period. Allianz Asset Management GmbH acquired a new stake in Nabors Industries during the 3rd quarter worth approximately $1,063,000. Cibc World Market Inc. grew its stake in shares of Nabors Industries by 10.6% in the 3rd quarter. Cibc World Market Inc. now owns 489,507 shares of the oil and gas company’s stock valued at $20,006,000 after purchasing an additional 46,802 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Nabors Industries by 77.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,313 shares of the oil and gas company’s stock valued at $2,751,000 after purchasing an additional 29,408 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Up 2.1%

NBR opened at $103.51 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. Nabors Industries Ltd. has a 12 month low of $23.27 and a 12 month high of $105.80. The stock has a market capitalization of $1.53 billion, a P/E ratio of 8.11 and a beta of 1.01. The business has a 50 day simple moving average of $86.31 and a 200-day simple moving average of $68.70.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.49) by $0.95. The firm had revenue of $783.55 million for the quarter, compared to analyst estimates of $769.33 million. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.Nabors Industries’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 earnings per share. On average, equities analysts anticipate that Nabors Industries Ltd. will post -4.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on NBR shares. Royal Bank Of Canada upped their price target on Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Citigroup lifted their price objective on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings cut shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. UBS Group set a $70.00 target price on shares of Nabors Industries in a research note on Friday, February 13th. Finally, Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $65.00 to $99.00 in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nabors Industries has an average rating of “Hold” and a consensus target price of $93.63.

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.