Counterpoint Mutual Funds LLC Buys Shares of 12,097 Nabors Industries Ltd. $NBR

Counterpoint Mutual Funds LLC purchased a new position in Nabors Industries Ltd. (NYSE:NBR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,097 shares of the oil and gas company’s stock, valued at approximately $494,000. Counterpoint Mutual Funds LLC owned approximately 0.08% of Nabors Industries at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NBR. CWM LLC grew its stake in Nabors Industries by 244.6% in the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake 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 valued at $40,000 after acquiring an additional 533 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Nabors Industries by 47.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock worth $91,000 after buying an additional 1,044 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Nabors Industries during the third quarter worth about $207,000. Finally, Outlook Wealth Advisors LLC acquired a new position in Nabors Industries during the 3rd quarter valued at approximately $211,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NBR shares. Citigroup reiterated a “neutral” rating and set a $85.00 price objective (up from $60.00) on shares of Nabors Industries in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $80.00 price target (up from $65.00) on shares of Nabors Industries in a research report on Tuesday, February 17th. Wall Street Zen lowered Nabors Industries from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group set a $70.00 price objective on Nabors Industries in a research note on Friday, February 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $77.00 price target (up from $70.00) on shares of Nabors Industries in a report on Friday, February 13th. Two 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. According to MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and a consensus price target of $67.13.

Nabors Industries Stock Performance

NYSE NBR opened at $77.74 on Wednesday. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.56 and a quick ratio of 1.47. The stock’s 50 day simple moving average is $63.30 and its 200-day simple moving average is $50.74. The company has a market cap of $1.14 billion, a PE ratio of 4.71 and a beta of 0.99. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $80.32.

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

Nabors Industries Company 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.