Tejara Capital Ltd Sells 16,812 Shares of Nabors Industries Ltd. (NYSE:NBR)

Key Points

• Tejara Capital Ltd has reduced its stake in Nabors Industries by 14.0%, selling 16,812 shares, which leaves them with a total of 103,535 shares, constituting approximately 1.7% of their investment portfolio.
• Nabors Industries' stock price has dropped 5.9%, with a current market cap of $528.55 million, and it reported a loss of ($2.71) EPS for the last quarter, missing analysts' expectations.
• Analyst ratings for Nabors Industries vary, with target prices ranging from $28.00 to $50.00, reflecting a consensus rating of "Hold" and an average target price of $41.88.

Tejara Capital Ltd decreased its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,535 shares of the oil and gas company's stock after selling 16,812 shares during the quarter. Nabors Industries accounts for approximately 1.7% of Tejara Capital Ltd's investment portfolio, making the stock its 16th biggest holding. Tejara Capital Ltd owned 1.08% of Nabors Industries worth $4,318,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NBR. Barings LLC bought a new position in shares of Nabors Industries during the 1st quarter worth approximately $8,864,000. Miller Value Partners LLC lifted its position in shares of Nabors Industries by 99.5% during the 4th quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company's stock worth $16,076,000 after buying an additional 140,230 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of 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 in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Nabors Industries during the 4th quarter worth approximately $6,602,000. Finally, Millennium Management LLC lifted its position in shares of Nabors Industries by 669.9% during the 4th quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company's stock worth $4,162,000 after buying an additional 85,565 shares in the last quarter. Institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Down 5.9%

NBR opened at $33.58 on Friday. The company has a fifty day moving average price of $32.56 and a 200-day moving average price of $35.59. The firm has a market capitalization of $528.55 million, a P/E ratio of -2.39 and a beta of 1.52. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.79 and a quick ratio of 1.63. Nabors Industries Ltd. has a one year low of $23.27 and a one year high of $87.46.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported ($2.71) EPS 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 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 firm's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned ($4.29) earnings per share. Equities research analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on NBR shares. Susquehanna lifted their target price on shares of Nabors Industries from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. 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. Morgan Stanley decreased their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Citigroup decreased their price target on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Nabors Industries presently has an average rating of "Hold" and an average target price of $41.88.

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.

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