Nabors Industries Ltd. $NBR Stock Holdings Trimmed by Tejara Capital Ltd

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 reduced its stake in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 14.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 comprises approximately 1.7% of Tejara Capital Ltd's portfolio, making the stock its 16th biggest holding. Tejara Capital Ltd owned approximately 1.08% of Nabors Industries worth $4,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NBR. Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 27,849 shares in the last quarter. Miller Value Partners LLC lifted its stake in shares of Nabors Industries by 99.5% during the fourth quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company's stock valued at $16,076,000 after buying an additional 140,230 shares during the period. Barings LLC purchased a new position in Nabors Industries during the first quarter worth about $8,864,000. Barclays PLC lifted its holdings in shares of Nabors Industries by 74.6% during the 4th quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock worth $11,211,000 after acquiring an additional 83,790 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Nabors Industries by 33.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,289 shares of the oil and gas company's stock worth $6,269,000 after purchasing an additional 37,648 shares during the period. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley cut their price objective on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. cut their target price on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 28th. Citigroup cut their price objective on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada cut their price objective on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler reissued an "underweight" rating and issued a $32.00 price objective (up from $30.00) on shares of Nabors Industries in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $41.88.

Nabors Industries Stock Up 13.9%

NBR stock traded up $4.4160 during midday trading on Wednesday, hitting $36.1460. 1,274,350 shares of the company's stock were exchanged, compared to its average volume of 553,174. 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 12-month low of $23.27 and a 12-month high of $86.10. The firm has a 50 day moving average price of $32.60 and a 200-day moving average price of $34.89. The stock has a market capitalization of $568.94 million, a price-to-earnings ratio of -2.57 and a beta of 1.52.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $832.79 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($4.29) earnings per share. On average, analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS for the current year.

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.