Lombard Odier Asset Management USA Corp Sells 41,546 Shares of Nabors Industries Ltd. $NBR

Lombard Odier Asset Management USA Corp cut its holdings in Nabors Industries Ltd. (NYSE:NBR) by 40.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 62,000 shares of the oil and gas company’s stock after selling 41,546 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Nabors Industries were worth $2,534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBR. CWM LLC grew its position in shares of Nabors Industries by 244.6% during the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after buying an additional 631 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Nabors Industries by 58.5% in the 2nd 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 lifted its position in shares of 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 valued at $91,000 after acquiring an additional 1,044 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Nabors Industries by 153.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,222 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 1,953 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in Nabors Industries by 720.6% during the second quarter. Osaic Holdings Inc. now owns 5,703 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 5,008 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group set a $70.00 price target on shares of Nabors Industries in a report on Friday, February 13th. Piper Sandler reissued an “overweight” rating and set a $80.00 price objective (up from $65.00) on shares of Nabors Industries in a research report on Tuesday, February 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $77.00 target price (up from $70.00) on shares of Nabors Industries in a research note on Friday, February 13th. Citigroup reaffirmed a “neutral” rating and issued a $85.00 target price (up from $60.00) on shares of Nabors Industries in a research report on Tuesday, February 24th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $70.00 price target (up from $64.00) on shares of Nabors Industries in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Nabors Industries presently has an average rating of “Hold” and an average price target of $69.00.

Nabors Industries Stock Performance

Shares of NBR stock opened at $76.16 on Tuesday. The firm has a market capitalization of $1.12 billion, a PE ratio of 4.62 and a beta of 0.89. The firm has a fifty day simple moving average of $70.21 and a two-hundred day simple moving average of $55.03. The company has a current ratio of 1.56, a quick ratio of 1.47 and a debt-to-equity ratio of 2.22. Nabors Industries Ltd. has a 12 month low of $23.27 and a 12 month high of $83.01.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($2.93) by $3.10. The firm had revenue of $805.13 million for the quarter, compared to analyst estimates of $795.82 million. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned ($6.67) earnings per share. Analysts forecast 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.