Quantbot Technologies LP Invests $417,000 in Nabors Industries Ltd. $NBR

Quantbot Technologies LP acquired a new position in shares of Nabors Industries Ltd. (NYSE:NBR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,201 shares of the oil and gas company’s stock, valued at approximately $417,000. Quantbot Technologies LP owned approximately 0.07% of Nabors Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new position in Nabors Industries in the third quarter worth $494,000. Highbridge Capital Management LLC boosted its position in shares of Nabors Industries by 26.9% in 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 purchasing an additional 104,219 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $2,751,000 after purchasing an additional 29,408 shares in the last quarter. Cibc World Market Inc. grew its stake in Nabors Industries by 10.6% during the 3rd quarter. Cibc World Market Inc. now owns 489,507 shares of the oil and gas company’s stock worth $20,006,000 after buying an additional 46,802 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Nabors Industries by 61.4% during the 3rd quarter. Rhumbline Advisers now owns 46,582 shares of the oil and gas company’s stock valued at $1,904,000 after buying an additional 17,718 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Up 3.4%

Nabors Industries stock opened at $81.41 on Tuesday. Nabors Industries Ltd. has a fifty-two week low of $23.27 and a fifty-two week high of $82.30. The company has a market cap of $1.19 billion, a PE ratio of 4.94 and a beta of 0.89. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.56. The business’s 50-day simple moving average is $68.01 and its two-hundred day simple moving average is $53.56.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($6.67) earnings per share. Equities analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on NBR. Wall Street Zen cut Nabors Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Citigroup restated a “neutral” rating and set a $85.00 price objective (up from $60.00) on shares of Nabors Industries in a report on Tuesday, February 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $80.00 price objective (up from $65.00) on shares of Nabors Industries in a research report on Tuesday, February 17th. Barclays lifted their target price on shares of Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 25th. Finally, Susquehanna reissued a “neutral” rating and set a $70.00 target price (up from $64.00) on shares of Nabors Industries in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.00.

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.