Barings LLC Reduces Stake in Nabors Industries Ltd. $NBR

Key Points

• Barings LLC reduced its Nabors Industries stake by 15.4% in the fourth quarter, selling 32,686 shares and leaving it with 179,841 shares valued at about $9.77 million.
• Institutional ownership remains very high, with 81.92% of Nabors’ stock held by hedge funds and other institutional investors, while several firms like Vanguard and Adage Capital increased their positions.
• Analysts are mixed but generally cautious: Nabors has a consensus rating of “Hold” with an average price target of $103.43, even as several firms recently raised their targets and one upgraded the stock to equal weight.

Barings LLC trimmed its stake in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 179,841 shares of the oil and gas company's stock after selling 32,686 shares during the period. Barings LLC owned 1.24% of Nabors Industries worth $9,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Nabors Industries by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company's stock worth $47,298,000 after purchasing an additional 13,424 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Nabors Industries by 25.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company's stock valued at $21,015,000 after purchasing an additional 150,000 shares during the period. Cibc World Market Inc. lifted its stake in shares of Nabors Industries by 2.0% in the 4th quarter. Cibc World Market Inc. now owns 499,147 shares of the oil and gas company's stock valued at $27,104,000 after purchasing an additional 9,640 shares during the period. Highbridge Capital Management LLC lifted its stake in shares of Nabors Industries by 26.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company's stock valued at $20,100,000 after purchasing an additional 104,219 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Nabors Industries by 10.3% in the 3rd quarter. American Century Companies Inc. now owns 354,901 shares of the oil and gas company's stock valued at $14,505,000 after purchasing an additional 33,101 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NBR shares. Susquehanna reissued a "neutral" rating and set a $105.00 price target (up from $85.00) on shares of Nabors Industries in a research report on Thursday, April 30th. Barclays raised shares of Nabors Industries from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $65.00 to $99.00 in a research report on Thursday, May 7th. Weiss Ratings cut shares of Nabors Industries from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 4th. Piper Sandler lifted their price target on shares of Nabors Industries from $84.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada lifted their price target on shares of Nabors Industries from $91.00 to $120.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Nabors Industries currently has an average rating of "Hold" and a consensus price target of $103.43.

Nabors Industries Trading Down 0.8%

Shares of NYSE:NBR opened at $102.06 on Friday. The company has a market cap of $1.51 billion, a P/E ratio of 7.99 and a beta of 0.96. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. Nabors Industries Ltd. has a 1 year low of $27.18 and a 1 year high of $112.90. The stock's fifty day moving average price is $93.87 and its 200-day moving average price is $75.92.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($2.49) by $0.95. The firm had revenue of $783.55 million during the quarter, compared to analysts' expectations of $769.33 million. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 earnings per share. Sell-side analysts expect 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.

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