Petrus Trust Company LTA Invests $461,000 in Nabors Industries Ltd. $NBR

Petrus Trust Company LTA purchased a new position in shares of Nabors Industries Ltd. (NYSE:NBR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,049 shares of the oil and gas company's stock, valued at approximately $461,000. Petrus Trust Company LTA owned about 0.12% of Nabors Industries as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Nabors Industries in the 4th quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in shares of Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock worth $45,000 after acquiring an additional 900 shares during the period. Russell Investments Group Ltd. increased its position in shares of Nabors Industries by 3,866.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 1,276 shares in the last quarter. State of Wyoming increased its position in shares of Nabors Industries by 20.5% during the 1st quarter. State of Wyoming now owns 2,941 shares of the oil and gas company's stock worth $123,000 after purchasing an additional 500 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Nabors Industries during the 1st quarter worth about $236,000. Institutional investors and hedge funds own 81.92% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NBR shares. Morgan Stanley lowered their price objective on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Piper Sandler reiterated 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 research report on Wednesday, August 27th. Barclays reissued an "underweight" rating and set a $28.00 price objective (down previously from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of Nabors Industries from $45.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $43.00.

Nabors Industries Stock Down 0.8%

NBR traded down $0.33 during trading on Friday, reaching $42.17. 532,658 shares of the stock were exchanged, compared to its average volume of 471,548. The stock has a market cap of $663.69 million, a P/E ratio of -3.00 and a beta of 1.60. Nabors Industries Ltd. has a twelve month low of $23.27 and a twelve month high of $86.10. The stock's 50 day moving average price is $34.56 and its two-hundred day moving average price is $33.43. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.63 and a current ratio of 1.79.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The oil and gas company reported ($2.71) earnings per share for the quarter, missing analysts' consensus estimates of ($2.05) by ($0.66). The firm had revenue of $832.79 million for the quarter, compared to analyst estimates of $857.98 million. Nabors Industries had a negative return on equity of 35.99% and a negative net margin of 3.51%.Nabors Industries's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($4.29) earnings per share. Equities analysts expect that Nabors Industries Ltd. will post -6.22 EPS for the current year.

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.