Arlington Capital Management Inc. Makes New Investment in Nabors Industries Ltd. $NBR

Key Points

• Arlington Capital Management acquired 37,429 Nabors Industries shares worth approximately $3.14 million, giving it a 0.23% stake and making NBR its 18th-largest holding.
• Institutional ownership remains high at 81.92%, with several hedge funds and investment firms increasing their positions during recent quarters.
• Nabors reported quarterly revenue of $814.79 million and a loss of $2.04 per share. Analysts’ consensus rating is Hold, with an average price target of $102.57 versus the stock’s reported price of $90.57.

Arlington Capital Management Inc. acquired a new stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,429 shares of the oil and gas company's stock, valued at approximately $3,144,000. Nabors Industries accounts for about 1.9% of Arlington Capital Management Inc.'s holdings, making the stock its 18th biggest position. Arlington Capital Management Inc. owned about 0.23% of Nabors Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. California State Teachers Retirement System increased its stake in shares of Nabors Industries by 9,671.6% during the second quarter. California State Teachers Retirement System now owns 1,022,402 shares of the oil and gas company's stock valued at $85,892,000 after purchasing an additional 1,011,939 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Nabors Industries by 62.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company's stock worth $68,418,000 after purchasing an additional 485,000 shares in the last quarter. Engineers Gate Manager LP grew its stake in shares of Nabors Industries by 1,518.1% in the 2nd quarter. Engineers Gate Manager LP now owns 414,599 shares of the oil and gas company's stock worth $34,830,000 after buying an additional 388,976 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Nabors Industries by 42.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company's stock valued at $38,545,000 after buying an additional 132,747 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Nabors Industries by 232.2% during the 3rd quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company's stock valued at $7,595,000 after buying an additional 129,904 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Trading Down 1.4%

Nabors Industries stock opened at $90.57 on Thursday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.75. Nabors Industries Ltd. has a one year low of $36.62 and a one year high of $112.90. The stock has a market capitalization of $1.45 billion, a PE ratio of 6.74 and a beta of 1.00. The business's fifty day moving average is $86.12 and its 200 day moving average is $87.83.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. The business had revenue of $814.79 million during the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%. On average, sell-side analysts predict that Nabors Industries Ltd. will post -3.69 EPS for the current year.

Insiders Place Their Bets

In related news, Director David Tudor sold 3,200 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the transaction, the director owned 5,264 shares in the company, valued at $485,867.20. This represents a 37.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NBR shares. Piper Sandler reiterated an "overweight" rating and set a $130.00 price objective (up from $120.00) on shares of Nabors Industries in a research note on Thursday, July 30th. Barclays set a $93.00 price target on Nabors Industries and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Wall Street Zen lowered Nabors Industries from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Nabors Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Finally, Zacks Research cut shares of Nabors Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nabors Industries has an average rating of "Hold" and an average price target of $102.57.

Nabors Industries 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.

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