Empowered Funds LLC Buys 19,286 Shares of Nabors Industries Ltd. $NBR

Key Points

• Empowered Funds LLC increased its Nabors Industries position by 41.6% in the first quarter, acquiring 19,286 additional shares and ending with 65,665 shares valued at approximately $5.65 million.
• Institutional investors own 81.92% of Nabors Industries, while analysts maintain a “Moderate Buy” consensus with an average price target of $102.00, despite mixed ratings.
• Nabors reported a quarterly loss of $2.04 per share on $814.79 million in revenue. Shares opened at $85.28, compared with a 52-week range of $30.90 to $112.90.

Empowered Funds LLC lifted its position in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 41.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,665 shares of the oil and gas company's stock after acquiring an additional 19,286 shares during the period. Empowered Funds LLC owned approximately 0.44% of Nabors Industries worth $5,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NBR. Islay Capital Management LLC acquired a new position in Nabors Industries during the fourth quarter valued at approximately $26,000. Quarry LP acquired a new position in shares of Nabors Industries in the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Nabors Industries in the 4th quarter valued at $40,000. Public Employees Retirement System of Ohio grew its holdings in shares of Nabors Industries by 23.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company's stock valued at $63,000 after buying an additional 289 shares during the period. Finally, State of Wyoming increased its position 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 valued at $71,000 after buying an additional 677 shares in the last quarter. Institutional investors own 81.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Citigroup boosted their target price on Nabors Industries from $89.00 to $110.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Barclays upgraded Nabors Industries from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $65.00 to $99.00 in a report on Thursday, May 7th. Royal Bank Of Canada raised their price target on Nabors Industries from $91.00 to $120.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.00.

Nabors Industries Price Performance

Shares of NYSE NBR opened at $85.28 on Friday. The firm has a market cap of $1.26 billion, a PE ratio of 6.35 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.82 and a debt-to-equity ratio of 2.24. Nabors Industries Ltd. has a 1-year low of $30.90 and a 1-year high of $112.90. The company has a fifty day moving average price of $87.61 and a 200 day moving average price of $83.16.

Nabors Industries (NYSE:NBR - Get Free Report) last released its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share (EPS) for the quarter. The firm had revenue of $814.79 million for the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%. Research analysts predict that Nabors Industries Ltd. will post -2.96 earnings per share for the current fiscal year.

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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