Arrowstreet Capital Limited Partnership Buys Shares of 15,393 Nabors Industries Ltd. $NBR

Key Points

• Arrowstreet Capital initiated a position in Nabors Industries by purchasing 15,393 shares valued at approximately $1.325 million. Institutional investors collectively own 81.92% of the company.
• Nabors shares recently traded down 5.8% to $78.72, while the company reported a quarterly loss of $2.04 per share on revenue of $814.79 million. Analysts expect a full-year loss of $2.96 per share.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $101.14, compared with the recent share price.

Arrowstreet Capital Limited Partnership bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,393 shares of the oil and gas company's stock, valued at approximately $1,325,000. Arrowstreet Capital Limited Partnership owned 0.10% of Nabors Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of NBR. Islay Capital Management LLC acquired a new position in Nabors Industries in the fourth quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Nabors Industries during the 4th quarter worth approximately $33,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nabors Industries during the 4th quarter worth approximately $40,000. State of Wyoming lifted its holdings in shares of Nabors Industries by 106.3% in the 4th quarter. State of Wyoming now owns 1,314 shares of the oil and gas company's stock worth $71,000 after purchasing an additional 677 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Nabors Industries by 63.0% in the 4th quarter. CWM LLC now owns 1,449 shares of the oil and gas company's stock worth $79,000 after purchasing an additional 560 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Trading Down 5.8%

Shares of NBR stock opened at $78.72 on Thursday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.82 and a current ratio of 1.89. Nabors Industries Ltd. has a 1 year low of $31.10 and a 1 year high of $112.90. The stock has a fifty day moving average of $86.42 and a two-hundred day moving average of $83.74. The firm has a market capitalization of $1.17 billion, a PE ratio of 5.86 and a beta of 0.98.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share (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%. As a group, research analysts expect that Nabors Industries Ltd. will post -2.96 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on NBR. Zacks Research upgraded Nabors Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Wall Street Zen lowered Nabors Industries from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Morgan Stanley reiterated an "overweight" rating and issued a $100.00 target price (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Weiss Ratings reissued a "hold (c-)" rating on shares of Nabors Industries in a report on Friday, July 31st. Finally, Citigroup upped their price target on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.14.

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.

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