Charles Schwab Investment Management Inc. Acquires 37,648 Shares of Nabors Industries Ltd. $NBR

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Nabors Industries Ltd. by 33.4%, acquiring an additional 37,648 shares to reach a total of 150,289 shares worth approximately $6.27 million.
• Nabors Industries reported a loss of ($2.71) EPS for the last quarter, missing expectations, with revenue increasing 12.1% year-over-year to $832.79 million, though still below the forecast.
• Wall Street analysts have mixed ratings for Nabors Industries, with price targets ranging from $25.00 to $50.00, and a consensus rating of "Reduce" reflecting cautious sentiment.

Charles Schwab Investment Management Inc. raised its holdings in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 33.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,289 shares of the oil and gas company's stock after acquiring an additional 37,648 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.56% of Nabors Industries worth $6,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Nabors Industries by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock valued at $16,556,000 after acquiring an additional 27,849 shares during the period. Barings LLC bought a new stake in Nabors Industries during the 1st quarter valued at $8,864,000. Balyasny Asset Management L.P. bought a new stake in Nabors Industries during the 4th quarter valued at $6,602,000. Northern Trust Corp raised its holdings in Nabors Industries by 9.1% during the 4th quarter. Northern Trust Corp now owns 104,523 shares of the oil and gas company's stock valued at $5,976,000 after acquiring an additional 8,720 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Nabors Industries by 300.7% during the 4th quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock valued at $5,185,000 after acquiring an additional 135,877 shares during the period. Institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Down 3.1%

Shares of NYSE:NBR opened at $34.66 on Wednesday. Nabors Industries Ltd. has a 52-week low of $23.27 and a 52-week high of $86.10. The firm has a fifty day moving average of $32.64 and a 200 day moving average of $34.16. The firm has a market capitalization of $545.56 million, a PE ratio of -2.47 and a beta of 1.52. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.63 and a current ratio of 1.79.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NBR shares. JPMorgan Chase & Co. reduced their price target on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, May 28th. Barclays restated an "underweight" rating and set a $28.00 price target (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Royal Bank Of Canada boosted their price target on shares of Nabors Industries from $45.00 to $47.00 and gave the company a "sector perform" rating in a research report on Thursday, August 21st. Morgan Stanley reduced their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Piper Sandler restated an "underweight" rating and set a $32.00 price target (up from $30.00) on shares of Nabors Industries in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Nabors Industries currently has a consensus rating of "Reduce" and an average price target of $42.13.

Nabors Industries Company Profile

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.

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