Y Intercept Hong Kong Ltd acquired a new stake in Nabors Industries Ltd. (NYSE:NBR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,491 shares of the oil and gas company's stock, valued at approximately $438,000. Y Intercept Hong Kong Ltd owned about 0.11% of Nabors Industries at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in NBR. Miller Value Partners LLC raised its holdings in Nabors Industries by 99.5% in the 4th 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 last quarter. Two Sigma Investments LP increased its stake in shares of Nabors Industries by 300.7% in the 4th quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock valued at $5,185,000 after acquiring an additional 135,877 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Nabors Industries in the 4th quarter valued at $6,602,000. Millennium Management LLC increased its stake in shares of Nabors Industries by 669.9% in the 4th quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company's stock valued at $4,162,000 after acquiring an additional 85,565 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Nabors Industries by 74.6% during the fourth quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock valued at $11,211,000 after buying an additional 83,790 shares during the last quarter. Institutional investors own 81.92% of the company's stock.
Nabors Industries Price Performance
NBR stock traded down $2.50 during midday trading on Friday, hitting $32.28. The company's stock had a trading volume of 190,080 shares, compared to its average volume of 457,012. Nabors Industries Ltd. has a 12 month low of $23.27 and a 12 month high of $90.32. The company has a quick ratio of 1.62, a current ratio of 1.79 and a debt-to-equity ratio of 4.17. The firm has a market capitalization of $506.80 million, a price-to-earnings ratio of -2.29 and a beta of 1.52. The company has a 50 day moving average of $31.22 and a two-hundred day moving average of $37.77.
Nabors Industries (NYSE:NBR - Get Free Report) last issued 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). Nabors Industries had a negative return on equity of 35.99% and a negative net margin of 3.51%. The firm had revenue of $832.79 million for the quarter, compared to analysts' expectations of $857.98 million. During the same period last year, the company earned ($4.29) earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. On average, analysts expect that Nabors Industries Ltd. will post -6.22 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on NBR. Royal Bank Of Canada cut their price objective on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th. Barclays restated an "underweight" rating and issued a $28.00 price objective (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Susquehanna increased their price target on shares of Nabors Industries from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Finally, Piper Sandler initiated coverage on Nabors Industries in a research note on Monday, July 14th. They set an "underweight" rating and a $30.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $41.63.
Get Our Latest Research Report on Nabors Industries
About Nabors Industries
(
Free Report)
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.
Further Reading
Before you consider Nabors Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nabors Industries wasn't on the list.
While Nabors Industries currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access