Nabors Industries Ltd. $NBR Stock Holdings Raised by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in Nabors Industries by 4.7%, acquiring an additional 13,391 shares, bringing its total holdings to 299,206 shares valued at approximately $12.48 million.
• Despite a loss of $2.71 per share reported for the last quarter, Nabors Industries saw a revenue increase of 12.1% compared to the previous year, amounting to $832.79 million, although this was below analysts' expectations.
• Institutional investors hold about 81.92% of Nabors Industries, with significant recent investments from firms like GAMMA Investing, which boosted its holdings by 520.2%.

American Century Companies Inc. increased its stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,206 shares of the oil and gas company's stock after purchasing an additional 13,391 shares during the quarter. American Century Companies Inc. owned approximately 3.12% of Nabors Industries worth $12,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBR. Public Employees Retirement System of Ohio purchased a new stake in Nabors Industries during the 4th quarter worth about $36,000. GAMMA Investing LLC increased its position in Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 900 shares in the last quarter. Russell Investments Group Ltd. increased its position in Nabors Industries by 3,866.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 1,276 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Nabors Industries during the 1st quarter worth about $236,000. Finally, SG Americas Securities LLC increased its position in Nabors Industries by 178.7% during the 1st quarter. SG Americas Securities LLC now owns 6,666 shares of the oil and gas company's stock worth $278,000 after purchasing an additional 4,274 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on Nabors Industries from $45.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. reduced their target price on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th. Barclays reiterated an "underweight" rating and set a $28.00 target price (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Piper Sandler reiterated an "underweight" rating and set a $32.00 target price (up from $30.00) on shares of Nabors Industries in a research report on Thursday, August 14th. Finally, Citigroup reduced their target price on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $43.00.

Nabors Industries Stock Up 2.9%

NYSE:NBR traded up $1.07 during mid-day trading on Friday, hitting $37.40. The company had a trading volume of 317,091 shares, compared to its average volume of 558,071. The business has a fifty day simple moving average of $32.84 and a 200-day simple moving average of $33.68. The company has a current ratio of 1.79, a quick ratio of 1.63 and a debt-to-equity ratio of 4.17. Nabors Industries Ltd. has a 1 year low of $23.27 and a 1 year high of $86.10. The firm has a market capitalization of $588.61 million, a price-to-earnings ratio of -2.66 and a beta of 1.60.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The oil and gas company reported ($2.71) earnings per share for the quarter, missing analysts' consensus estimates of ($2.05) by ($0.66). The firm had revenue of $832.79 million during the quarter, compared to analysts' expectations of $857.98 million. Nabors Industries had a negative net margin of 3.51% and a negative return on equity of 35.99%. The business's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned ($4.29) earnings per share. Equities analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.