Nabors Industries Ltd. $NBR Shares Sold by Hara Capital LLC

Hara Capital LLC trimmed its holdings in Nabors Industries Ltd. (NYSE:NBR) by 39.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125,371 shares of the oil and gas company’s stock after selling 82,734 shares during the period. Nabors Industries accounts for about 3.0% of Hara Capital LLC’s investment portfolio, making the stock its 5th largest position. Hara Capital LLC owned about 0.80% of Nabors Industries worth $5,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MQS Management LLC acquired a new stake in shares of Nabors Industries in the second quarter valued at approximately $262,000. Monaco Asset Management SAM purchased a new stake in Nabors Industries in the 2nd quarter valued at approximately $210,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Nabors Industries during the 2nd quarter valued at $203,000. Geode Capital Management LLC grew its holdings in Nabors Industries by 59.5% during the 2nd quarter. Geode Capital Management LLC now owns 338,566 shares of the oil and gas company’s stock valued at $9,488,000 after buying an additional 126,243 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Nabors Industries by 7.6% during the second quarter. American Century Companies Inc. now owns 321,800 shares of the oil and gas company’s stock worth $9,017,000 after buying an additional 22,594 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Stock Down 1.3%

Shares of NYSE NBR opened at $64.91 on Friday. The stock has a market capitalization of $945.03 million, a PE ratio of 6.73 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 2.09 and a debt-to-equity ratio of 2.50. The firm has a fifty day moving average of $54.87 and a 200-day moving average of $44.63. Nabors Industries Ltd. has a 52-week low of $23.27 and a 52-week high of $66.66.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The firm had revenue of $825.51 million during the quarter, compared to analyst estimates of $824.61 million. During the same quarter in the previous year, the business posted ($6.86) EPS. Nabors Industries’s revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of Nabors Industries in a research note on Wednesday. Susquehanna set a $64.00 price target on shares of Nabors Industries and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Barclays set a $50.00 price target on shares of Nabors Industries and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Finally, Wall Street Zen raised shares of Nabors Industries from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.14.

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.