Petrus Trust Company LTA Makes New $461,000 Investment in Nabors Industries Ltd. $NBR

Petrus Trust Company LTA purchased a new position in Nabors Industries Ltd. (NYSE:NBR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brigade Capital Management LP acquired a new stake in Nabors Industries during the 1st quarter worth $37,653,000. Adage Capital Partners GP L.L.C. raised its stake in Nabors Industries by 445.5% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 600,000 shares of the oil and gas company's stock worth $25,026,000 after buying an additional 490,000 shares during the period. Barings LLC acquired a new stake in Nabors Industries during the 1st quarter worth $8,864,000. Two Sigma Investments LP raised its stake in Nabors Industries by 300.7% during the 4th quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock worth $5,185,000 after buying an additional 135,877 shares during the period. Finally, Apollo Management Holdings L.P. raised its stake in Nabors Industries by 26.2% during the 1st quarter. Apollo Management Holdings L.P. now owns 421,836 shares of the oil and gas company's stock worth $17,595,000 after buying an additional 87,552 shares during the period. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Stock Down 0.3%

Shares of NYSE:NBR traded down $0.12 during midday trading on Friday, reaching $42.38. The company had a trading volume of 697,574 shares, compared to its average volume of 506,847. The company has a quick ratio of 1.63, a current ratio of 1.79 and a debt-to-equity ratio of 4.17. The business's 50 day moving average price is $34.78 and its 200 day moving average price is $33.39. The stock has a market cap of $666.93 million, a PE ratio of -3.01 and a beta of 1.60. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $86.10.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler reaffirmed an "underweight" rating and set a $32.00 price objective (up previously from $30.00) on shares of Nabors Industries in a research note on Thursday, August 14th. Barclays reissued an "underweight" rating and issued a $28.00 price target (down previously from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. JPMorgan Chase & Co. dropped their price target 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. Morgan Stanley dropped their price target on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Susquehanna lifted their price target on Nabors Industries from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, August 27th. One equities research 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 data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $43.00.

Nabors Industries 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.