Nabors Industries Ltd. $NBR Shares Sold by Highbridge Capital Management LLC

Highbridge Capital Management LLC reduced its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 413,294 shares of the oil and gas company’s stock after selling 78,501 shares during the quarter. Highbridge Capital Management LLC owned 2.84% of Nabors Industries worth $22,442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBR. Adage Capital Partners GP L.L.C. grew its position in Nabors Industries by 25.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company’s stock worth $21,015,000 after buying an additional 150,000 shares during the period. Two Sigma Investments LP grew its position in Nabors Industries by 232.2% during the third quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company’s stock worth $7,595,000 after buying an additional 129,904 shares during the period. Millennium Management LLC grew its position in Nabors Industries by 846.5% during the third quarter. Millennium Management LLC now owns 112,106 shares of the oil and gas company’s stock worth $4,582,000 after buying an additional 100,262 shares during the period. BROOKFIELD Corp ON acquired a new position in Nabors Industries during the second quarter worth about $2,170,000. Finally, Cibc World Market Inc. grew its position in Nabors Industries by 10.6% during the third 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 period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on NBR. Weiss Ratings lowered shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Nabors Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. UBS Group set a $70.00 price target on shares of Nabors Industries in a research report on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating and issued a $100.00 price target (up from $80.00) on shares of Nabors Industries in a research report on Wednesday, April 15th. Finally, Citigroup increased their price target on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Nabors Industries currently has an average rating of “Hold” and an average price target of $103.43.

Nabors Industries Stock Down 5.2%

Shares of NYSE NBR opened at $95.83 on Friday. Nabors Industries Ltd. has a 1 year low of $27.18 and a 1 year high of $112.90. The firm’s 50 day moving average price is $92.89 and its 200 day moving average price is $74.21. The firm has a market cap of $1.42 billion, a P/E ratio of 7.50 and a beta of 0.96. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.82 and a current ratio of 1.97.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.49) by $0.95. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The firm had revenue of $783.55 million for the quarter, compared to analyst estimates of $769.33 million. During the same quarter last year, the business earned $2.18 earnings per share. Nabors Industries’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nabors Industries Ltd. will post -3.52 earnings per share for the current 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.