American Century Companies Inc. Purchases 13,391 Shares of Nabors Industries Ltd. $NBR

American Century Companies Inc. increased its position in Nabors Industries Ltd. (NYSE:NBR) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,206 shares of the oil and gas company’s stock after acquiring an additional 13,391 shares during the quarter. American Century Companies Inc. owned about 3.12% of Nabors Industries worth $12,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NBR. GAMMA Investing LLC boosted its holdings in Nabors Industries by 520.2% during the first quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 900 shares during the period. Dimensional Fund Advisors LP grew its holdings in Nabors Industries by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company’s stock valued at $16,556,000 after buying an additional 27,849 shares during the last quarter. Readystate Asset Management LP increased its position in Nabors Industries by 78.2% in the 1st quarter. Readystate Asset Management LP now owns 40,505 shares of the oil and gas company’s stock worth $1,689,000 after buying an additional 17,780 shares during the period. SG Americas Securities LLC increased its position in Nabors Industries by 178.7% in the 1st quarter. SG Americas Securities LLC now owns 6,666 shares of the oil and gas company’s stock worth $278,000 after buying an additional 4,274 shares during the period. Finally, Barings LLC acquired a new position in shares of Nabors Industries during the first quarter worth approximately $8,864,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Price Performance

Shares of NBR opened at $35.80 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.63 and a debt-to-equity ratio of 4.17. The stock has a market cap of $563.38 million, a P/E ratio of -2.55 and a beta of 1.52. The stock’s 50-day moving average price is $32.64 and its two-hundred day moving average price is $34.16. Nabors Industries Ltd. has a 1 year low of $23.27 and a 1 year high of $86.10.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, July 29th. The oil and gas company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($2.05) by ($0.66). Nabors Industries had a negative return on equity of 35.99% and a negative net margin of 3.51%.The firm had revenue of $832.79 million for the quarter, compared to the consensus estimate of $857.98 million. During the same period in the previous year, the business earned ($4.29) EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NBR shares. Citigroup lowered their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Piper Sandler restated an “underweight” rating and set a $32.00 price objective (up previously from $30.00) on shares of Nabors Industries in a report on Thursday, August 14th. Barclays reaffirmed an “underweight” rating and set a $28.00 price objective (down previously from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Susquehanna lifted their target price on Nabors Industries from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada upped their price objective on Nabors Industries from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Nabors Industries has an average rating of “Reduce” and a consensus target price of $42.13.

Nabors Industries Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.