Invst LLC Buys New Shares in Nabors Industries Ltd. $NBR

Key Points

• Invst LLC has purchased a new stake in Nabors Industries, acquiring 17,278 shares valued at approximately $721,000, reflecting a 0.11% ownership.
• A variety of institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and GAMMA Investing LLC, have also adjusted their investments in Nabors Industries, with GAMMA increasing its stake by an astonishing 520.2%.
• Nabors Industries reported a quarterly loss of ($2.71) earnings per share, missing consensus estimates, and analysts predict a negative earnings outlook for the current year.

Invst LLC bought a new position in Nabors Industries Ltd. (NYSE:NBR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 17,278 shares of the oil and gas company's stock, valued at approximately $721,000. Invst LLC owned approximately 0.11% of Nabors Industries at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NBR. Northern Trust Corp grew its stake in shares of Nabors Industries by 9.1% in the 4th quarter. Northern Trust Corp now owns 104,523 shares of the oil and gas company's stock worth $5,976,000 after acquiring an additional 8,720 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Nabors Industries by 12.3% in the 4th quarter. Bank of America Corp DE now owns 44,102 shares of the oil and gas company's stock worth $2,521,000 after acquiring an additional 4,838 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Nabors Industries by 92.4% in the 4th quarter. Cetera Investment Advisers now owns 6,885 shares of the oil and gas company's stock worth $394,000 after acquiring an additional 3,306 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Nabors Industries by 55.8% in the 4th quarter. Deutsche Bank AG now owns 7,260 shares of the oil and gas company's stock worth $415,000 after acquiring an additional 2,599 shares in the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of Nabors Industries by 37.5% in the 4th quarter. Gotham Asset Management LLC now owns 24,834 shares of the oil and gas company's stock worth $1,420,000 after acquiring an additional 6,772 shares in the last quarter. Institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Performance

NBR traded down $0.84 on Thursday, reaching $39.68. The stock had a trading volume of 136,187 shares, compared to its average volume of 470,424. Nabors Industries Ltd. has a 12-month low of $23.27 and a 12-month high of $86.10. The company has a current ratio of 1.79, a quick ratio of 1.63 and a debt-to-equity ratio of 4.17. The business's 50-day moving average price is $35.25 and its two-hundred day moving average price is $33.46. The company has a market cap of $624.48 million, a P/E ratio of -2.82 and a beta of 1.60.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $832.79 million for the quarter, compared to analysts' expectations of $857.98 million. Nabors Industries had a negative net margin of 3.51% and a negative return on equity of 35.99%. The business's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned ($4.29) earnings per share. Sell-side analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Analyst Ratings Changes

NBR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 28th. Piper Sandler restated an "underweight" rating and set a $32.00 price target (up previously from $30.00) on shares of Nabors Industries in a research report on Thursday, August 14th. Susquehanna lifted their price target on shares of Nabors Industries from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, August 27th. Finally, Royal Bank Of Canada lifted their price target on shares of Nabors Industries from $45.00 to $47.00 and gave the stock a "sector perform" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $43.00.

Insider Activity at Nabors Industries

In other news, major shareholder Varde Partners Inc sold 312,378 shares of Nabors Industries stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $41.04, for a total transaction of $12,819,993.12. Following the transaction, the insider owned 1,406,052 shares in the company, valued at $57,704,374.08. The trade was a 18.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.41% of the stock is currently owned by corporate insiders.

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.