Nomura Holdings Inc. Takes $2.68 Million Position in Nabors Industries Ltd. $NBR

Key Points

• Nomura Holdings Inc. purchased 64,165 shares of Nabors Industries Ltd. for approximately $2.68 million, representing a 0.67% stake in the company as of the end of the first quarter.
• A significant shift in institutional investments was observed, with firms like GAMMA Investing LLC increasing their stake by over 520% and others like Russell Investments Group Ltd. by 3,866.7% in the same quarter.
• Recent analyst ratings have varied, with price targets ranging from $28.00 to $47.00, indicating mixed sentiments about Nabors Industries' stock performance.

Nomura Holdings Inc. acquired 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 64,165 shares of the oil and gas company's stock, valued at approximately $2,676,000. Nomura Holdings Inc. owned approximately 0.67% of Nabors Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NBR. American Century Companies Inc. lifted its position in Nabors Industries by 4.7% in the 1st quarter. American Century Companies Inc. now owns 299,206 shares of the oil and gas company's stock valued at $12,480,000 after acquiring an additional 13,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Nabors Industries by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock valued at $16,556,000 after acquiring an additional 27,849 shares in the last quarter. Barings LLC bought a new position in Nabors Industries in the 1st quarter valued at about $8,864,000. Charles Schwab Investment Management Inc. lifted its position in Nabors Industries by 33.4% in the 1st 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 in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Nabors Industries in the 4th quarter valued at about $6,602,000. Institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Performance

Shares of NBR stock traded up $0.54 during trading hours on Friday, hitting $38.32. 449,615 shares of the company were exchanged, compared to its average volume of 531,627. The firm has a fifty day simple moving average of $33.68 and a 200 day simple moving average of $33.45. The company has a current ratio of 1.79, a quick ratio of 1.63 and a debt-to-equity ratio of 4.17. Nabors Industries Ltd. has a 52-week low of $23.27 and a 52-week high of $86.10. The stock has a market capitalization of $603.09 million, a price-to-earnings ratio of -2.73 and a beta of 1.60.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on NBR shares. JPMorgan Chase & Co. dropped their price target on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley dropped their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Barclays reissued an "underweight" rating and set a $28.00 target price (down previously from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Piper Sandler reissued an "underweight" rating and set a $32.00 target price (up previously from $30.00) on shares of Nabors Industries in a research report on Thursday, August 14th. Finally, Citigroup dropped their target price on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $43.00.

About Nabors Industries

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.