Lazard Asset Management LLC Acquires Shares of 12,716 Nabors Industries Ltd. $NBR

Key Points

• Lazard Asset Management acquired 12,716 Nabors Industries shares worth approximately $1.09 million, while institutional investors collectively own 81.92% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $102; Piper Sandler recently raised its target to $130, while Wall Street Zen downgraded the stock to “sell.”
• Nabors shares opened at $83.41, below their 12-month high of $112.90. The company reported a quarterly loss of $2.04 per share on $814.79 million in revenue, and analysts expect a full-year loss of $2.96 per share.

Lazard Asset Management LLC bought a new position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,716 shares of the oil and gas company's stock, valued at approximately $1,094,000. Lazard Asset Management LLC owned 0.09% of Nabors Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Islay Capital Management LLC purchased a new position in shares of Nabors Industries in the 4th quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Nabors Industries during the fourth quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd purchased a new stake in Nabors Industries in the fourth quarter worth $40,000. Public Employees Retirement System of Ohio grew its stake in Nabors Industries by 23.0% in the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 289 shares during the period. Finally, State of Wyoming raised its holdings in Nabors Industries by 106.3% in the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company's stock worth $71,000 after purchasing an additional 677 shares in the last quarter. Institutional investors own 81.92% of the company's stock.

Analyst Upgrades and Downgrades

NBR has been the subject of several recent research reports. Wall Street Zen lowered Nabors Industries from a "hold" rating to a "sell" rating in a research report on Saturday. Piper Sandler reaffirmed an "overweight" rating and issued a $130.00 target price (up from $120.00) on shares of Nabors Industries in a research report on Thursday, July 30th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Nabors Industries in a research note on Friday. Royal Bank Of Canada lifted their price target on shares of Nabors Industries from $91.00 to $120.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. Finally, Morgan Stanley reissued 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. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.00.

Nabors Industries Stock Down 1.0%

Shares of NYSE:NBR opened at $83.41 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.82 and a debt-to-equity ratio of 2.24. The stock has a fifty day simple moving average of $86.81 and a two-hundred day simple moving average of $83.62. Nabors Industries Ltd. has a 12-month low of $31.10 and a 12-month high of $112.90. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 6.21 and a beta of 0.98.

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

About Nabors Industries

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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