American Century Companies Inc. Purchases 33,101 Shares of Nabors Industries Ltd. $NBR

American Century Companies Inc. raised its position in Nabors Industries Ltd. (NYSE:NBR) by 10.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 354,901 shares of the oil and gas company’s stock after acquiring an additional 33,101 shares during the period. American Century Companies Inc. owned about 2.44% of Nabors Industries worth $14,505,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Nabors Industries in the third quarter valued at approximately $417,000. Counterpoint Mutual Funds LLC bought a new position in Nabors Industries in the third quarter valued at $494,000. Highbridge Capital Management LLC increased its stake in 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 valued at $20,100,000 after buying an additional 104,219 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Nabors Industries by 77.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 67,313 shares of the oil and gas company’s stock worth $2,751,000 after buying an additional 29,408 shares in the last quarter. Finally, Cibc World Market Inc. lifted its position 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 in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

NBR has been the subject of several recent research reports. Wall Street Zen cut Nabors Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 29th. Barclays upped their price objective on Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 25th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of Nabors Industries in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $77.00 target price (up from $70.00) on shares of Nabors Industries in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.00.

Nabors Industries Price Performance

NYSE:NBR opened at $78.65 on Thursday. Nabors Industries Ltd. has a 12-month low of $23.27 and a 12-month high of $83.01. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 4.77 and a beta of 0.89. The stock’s 50 day moving average price is $69.01 and its two-hundred day moving average price is $54.04. The company has a quick ratio of 1.47, a current ratio of 1.56 and a debt-to-equity ratio of 2.22.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, topping the consensus estimate of ($2.93) by $3.10. The company 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 for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($6.67) EPS. On average, analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

About Nabors Industries

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.