Hosking Partners LLP Makes New Investment in Nabors Industries Ltd. $NBR

Key Points

• Hosking Partners LLP initiated a position in Nabors Industries during the third quarter, purchasing 38,021 shares valued at approximately $2.97 million and representing about 0.24% of the company.
• Institutional investors and hedge funds own 81.92% of Nabors Industries. The stock opened at $80.76, with a market capitalization of $1.29 billion, while the company reported a quarterly loss of $2.04 per share.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $103.43; estimates for the current fiscal year project a loss of $3.54 per share.

Hosking Partners LLP purchased a new position in Nabors Industries Ltd. (NYSE:NBR - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 38,021 shares of the oil and gas company's stock, valued at approximately $2,970,000. Hosking Partners LLP owned approximately 0.24% of Nabors Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. IFP Advisors Inc grew its holdings in shares of Nabors Industries by 106.6% during the second quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company's stock valued at $37,000 after buying an additional 225 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Nabors Industries during the third quarter valued at $41,000. EverSource Wealth Advisors LLC lifted its stake in Nabors Industries by 29.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company's stock worth $54,000 after acquiring an additional 141 shares in the last quarter. Allworth Financial LP lifted its stake in Nabors Industries by 16.9% in the 2nd quarter. Allworth Financial LP now owns 1,134 shares of the oil and gas company's stock worth $95,000 after acquiring an additional 164 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Nabors Industries in the 2nd quarter worth about $101,000. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Trading Up 0.9%

Shares of NBR stock opened at $80.76 on Thursday. The firm has a fifty day moving average of $86.04 and a 200-day moving average of $88.18. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 6.01 and a beta of 1.11. Nabors Industries Ltd. has a 52-week low of $40.78 and a 52-week high of $112.90. 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 announced its quarterly earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. The business 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%. On average, equities research analysts forecast that Nabors Industries Ltd. will post -3.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NBR shares. Zacks Research cut shares of Nabors Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Barclays set a $93.00 price objective on Nabors Industries and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. Weiss Ratings raised Nabors Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Wall Street Zen cut Nabors Industries from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Morgan Stanley set a $110.00 target price on Nabors Industries in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $103.43.

Insider Buying and Selling at Nabors Industries

In other news, Director David Tudor sold 3,200 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the transaction, the director directly owned 5,264 shares of the company's stock, valued at approximately $485,867.20. This represents a 37.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.32% of the company's stock.

Nabors Industries Profile

Nabors Industries Ltd. is a global provider of drilling and well-construction services to the oil and gas industry. The company operates land-based drilling rigs and offshore drilling units, serving exploration and production companies developing conventional and unconventional oil and natural gas resources.

Its services and products include contract drilling, directional drilling, measurement-while-drilling and logging-while-drilling technologies, wellbore placement, and drilling-related equipment.

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