Nuveen LLC Invests $1.17 Million in Nabors Industries Ltd. $NBR

Nuveen LLC bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,095 shares of the oil and gas company’s stock, valued at approximately $1,172,000. Nuveen LLC owned approximately 0.29% of Nabors Industries as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Nabors Industries by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company’s stock worth $16,556,000 after purchasing an additional 27,849 shares in the last quarter. Barings LLC purchased a new stake in Nabors Industries during the 1st quarter valued at about $8,864,000. Charles Schwab Investment Management Inc. grew its stake in Nabors Industries by 33.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 150,289 shares of the oil and gas company’s stock valued at $6,269,000 after acquiring an additional 37,648 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Nabors Industries during the 4th quarter valued at about $6,602,000. Finally, Northern Trust Corp grew its stake in Nabors Industries by 9.1% during the 4th quarter. Northern Trust Corp now owns 104,523 shares of the oil and gas company’s stock valued at $5,976,000 after acquiring an additional 8,720 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

Nabors Industries stock opened at $37.40 on Tuesday. The firm has a 50 day simple moving average of $32.97 and a 200-day simple moving average of $33.61. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $86.10. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.79 and a quick ratio of 1.63. The stock has a market cap of $588.61 million, a price-to-earnings ratio of -2.66 and a beta of 1.60.

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

Analyst Ratings Changes

Several brokerages recently issued reports on NBR. Citigroup dropped their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. 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 note on Monday, May 19th. Piper Sandler reaffirmed an “underweight” rating and set a $32.00 price objective (up previously from $30.00) on shares of Nabors Industries in a research note on Thursday, August 14th. Royal Bank Of Canada upped their price objective on shares of Nabors Industries from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, August 21st. Finally, Susquehanna increased their price target on shares of Nabors Industries from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $43.00.

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.