Entropy Technologies LP Has $279,000 Position in Nabors Industries Ltd. (NYSE:NBR)

Entropy Technologies LP cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) by 56.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,693 shares of the oil and gas company's stock after selling 8,701 shares during the quarter. Entropy Technologies LP owned approximately 0.07% of Nabors Industries worth $279,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Nabors Industries during the first quarter valued at $294,000. Swiss National Bank lifted its holdings in shares of Nabors Industries by 27.2% during the first quarter. Swiss National Bank now owns 21,500 shares of the oil and gas company's stock valued at $897,000 after acquiring an additional 4,600 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nabors Industries by 33.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,289 shares of the oil and gas company's stock valued at $6,269,000 after acquiring an additional 37,648 shares during the period. Barings LLC bought a new position in shares of Nabors Industries during the first quarter valued at $8,864,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Nabors Industries by 23.1% during the first quarter. Federated Hermes Inc. now owns 36,786 shares of the oil and gas company's stock valued at $1,534,000 after acquiring an additional 6,912 shares during the period. 81.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank Of Canada cut their price objective on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Piper Sandler reissued an "underweight" rating and set a $32.00 price objective (up from $30.00) on shares of Nabors Industries in a report on Thursday. Citigroup cut their price objective on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Barclays reaffirmed an "underweight" rating and issued a $28.00 price target (down from $53.00) on shares of Nabors Industries in a report on Monday, May 19th. Finally, Morgan Stanley cut their price target on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $41.88.

Nabors Industries Stock Performance

Nabors Industries stock opened at $33.58 on Friday. The stock has a market capitalization of $528.55 million, a price-to-earnings ratio of -2.39 and a beta of 1.52. Nabors Industries Ltd. has a 12-month low of $23.27 and a 12-month high of $87.46. The company has a quick ratio of 1.63, a current ratio of 1.79 and a debt-to-equity ratio of 4.17. The stock has a 50-day simple moving average of $32.56 and a 200 day simple moving average of $35.59.

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

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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