David Tudor Sells 3,200 Shares of Nabors Industries (NYSE:NBR) Stock

Key Points

• Director David Tudor sold 3,200 Nabors Industries shares at an average price of $92.30, generating $295,360 and reducing his direct holdings by 37.81% to 5,264 shares.
• Nabors shares traded near $91.89, with a market capitalization of approximately $1.47 billion and a price-to-earnings ratio of 6.84. The company reported a quarterly loss of $2.04 per share on $814.79 million in revenue.
• Analysts maintain an overall “Hold” rating, with an average price target of $102.57; institutional investors and hedge funds own 81.92% of the stock.

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) Director David Tudor sold 3,200 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the sale, the director directly owned 5,264 shares in the company, valued at $485,867.20. The trade was a 37.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nabors Industries Stock Performance

Shares of NYSE:NBR traded up $0.23 during trading on Friday, hitting $91.89. 216,588 shares of the company were exchanged, compared to its average volume of 329,993. Nabors Industries Ltd. has a 52-week low of $34.70 and a 52-week high of $112.90. The stock has a 50 day moving average of $84.59 and a 200 day moving average of $86.44. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.75. The company has a market cap of $1.47 billion, a PE ratio of 6.84 and a beta of 0.98.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. The company had revenue of $814.79 million during the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. As a group, equities research analysts predict that Nabors Industries Ltd. will post -3.69 EPS for the current year.

Institutional Trading of Nabors Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Islay Capital Management LLC purchased a new position in Nabors Industries during the 4th quarter valued at $26,000. Quarry LP bought a new stake in shares of Nabors Industries during the 4th quarter valued at about $33,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Nabors Industries during the fourth quarter valued at about $40,000. EverSource Wealth Advisors LLC raised its stake in Nabors Industries by 29.3% in the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company's stock worth $54,000 after buying an additional 141 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Nabors Industries by 23.0% in the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company's stock worth $63,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NBR. Morgan Stanley set a $110.00 price target on shares of Nabors Industries in a report on Thursday, August 20th. Weiss Ratings raised shares of Nabors Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Susquehanna dropped their target price on Nabors Industries from $105.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Royal Bank Of Canada raised their price objective on Nabors Industries from $91.00 to $120.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Finally, Zacks Research cut Nabors Industries from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $102.57.

Nabors Industries Company Profile

Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land and offshore drilling rigs, drilling equipment and related services to energy companies around the world. The company's operations span two core segments: drilling and evaluation, which includes land‐based and platform drilling rigs as well as wellbore survey services, and wellbore technologies, offering pressure control equipment, downhole tools and specialized maintenance services. Nabors' integrated model combines rig operations with engineered products and field support, positioning it as a full‐service provider in the upstream sector.

The company maintains a diverse, modern fleet of automated and conventional drilling rigs and has pioneered advanced drilling technologies, including automated drilling controls and managed pressure drilling systems.

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