Cibc World Market Inc. Has $27.10 Million Position in Nabors Industries Ltd. $NBR

Cibc World Market Inc. boosted its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 499,147 shares of the oil and gas company’s stock after purchasing an additional 9,640 shares during the period. Cibc World Market Inc.’s holdings in Nabors Industries were worth $27,104,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in Nabors Industries by 23.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock worth $63,000 after buying an additional 289 shares during the last quarter. CWM LLC lifted its position in shares of Nabors Industries by 63.0% in the fourth quarter. CWM LLC now owns 1,449 shares of the oil and gas company’s stock worth $79,000 after buying an additional 560 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Nabors Industries by 153.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,222 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 1,953 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Nabors Industries by 720.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,703 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 5,008 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Nabors Industries during the 3rd quarter valued at about $207,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NBR shares. Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $65.00 to $99.00 in a research report on Thursday, May 7th. Citigroup lifted their target price on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Susquehanna restated a “neutral” rating and set a $105.00 price target (up from $85.00) on shares of Nabors Industries in a report on Thursday, April 30th. Finally, Piper Sandler raised their price target on Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Nabors Industries presently has an average rating of “Hold” and a consensus target price of $103.43.

Nabors Industries Price Performance

Nabors Industries stock opened at $101.08 on Friday. The business has a 50 day simple moving average of $92.72 and a 200 day simple moving average of $74.06. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. The company has a market capitalization of $1.50 billion, a PE ratio of 7.92 and a beta of 0.96. Nabors Industries Ltd. has a one year low of $27.18 and a one year high of $112.90.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.49) by $0.95. The firm had revenue of $783.55 million during 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%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. On average, sell-side analysts forecast that Nabors Industries Ltd. will post -3.52 EPS for the current fiscal 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.