Concurrent Investment Advisors LLC Invests $2.08 Million in Nabors Industries Ltd. $NBR

Key Points

• Concurrent Investment Advisors acquired 24,766 Nabors Industries shares in the second quarter, valued at approximately $2.08 million, giving it a 0.16% stake. Institutional investors collectively own 81.92% of the company.
• Analyst sentiment is cautious: Nabors has an average “Hold” rating from eight analysts, with a consensus price target of $102.57; recent actions included downgrades by Zacks Research and Wall Street Zen.
• Nabors shares opened at $91.96, while the company reported a quarterly loss of $2.04 per share on $814.79 million in revenue. Director David Tudor also sold 3,200 shares at an average price of $92.30.

Concurrent Investment Advisors LLC acquired a new position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,766 shares of the oil and gas company's stock, valued at approximately $2,081,000. Concurrent Investment Advisors LLC owned 0.16% of Nabors Industries as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NBR. Bank of America Corp DE grew its position in shares of Nabors Industries by 191.8% during the 1st quarter. Bank of America Corp DE now owns 151,922 shares of the oil and gas company's stock worth $13,074,000 after buying an additional 99,852 shares during the period. Vanguard Group Inc. raised 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 valued at $47,298,000 after acquiring an additional 13,424 shares during the period. Renaissance Technologies LLC boosted its stake in Nabors Industries by 236.0% during the 1st quarter. Renaissance Technologies LLC now owns 16,800 shares of the oil and gas company's stock worth $1,446,000 after acquiring an additional 11,800 shares during the last quarter. Lazard Asset Management LLC bought a new position in Nabors Industries during the 1st quarter worth approximately $1,094,000. Finally, De Lisle Partners LLP acquired a new position in Nabors Industries during the fourth quarter valued at approximately $1,542,000. Institutional investors own 81.92% of the company's stock.

Insiders Place Their Bets

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the sale, the director directly owned 5,264 shares of the company's stock, valued at $485,867.20. The trade was a 37.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 5.32% of the company's stock.

Wall Street Analyst Weigh In

NBR has been the topic of a number of recent analyst reports. Zacks Research cut shares of Nabors Industries from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Wall Street Zen lowered Nabors Industries from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Morgan Stanley set a $110.00 price target on Nabors Industries in a report on Thursday, August 20th. Susquehanna cut their price objective on Nabors Industries from $105.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday, July 8th. Finally, Barclays set a $93.00 price objective on Nabors Industries and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Nabors Industries currently has an average rating of "Hold" and a consensus target price of $102.57.

Nabors Industries Stock Up 1.2%

NYSE:NBR opened at $91.96 on Wednesday. The stock has a 50-day simple moving average of $85.85 and a 200 day simple moving average of $87.73. Nabors Industries Ltd. has a 52-week low of $36.62 and a 52-week high of $112.90. The company has a market cap of $1.47 billion, a PE ratio of 6.84 and a beta of 1.00. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.75 and a current ratio of 1.89.

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 for the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%.The firm had revenue of $814.79 million for the quarter. On average, sell-side analysts expect that Nabors Industries Ltd. will post -3.69 EPS for the current fiscal 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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