SG Americas Securities LLC Trims Holdings in Nabors Industries Ltd. $NBR

SG Americas Securities LLC cut its position in Nabors Industries Ltd. (NYSE:NBR) by 45.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,336 shares of the oil and gas company’s stock after selling 16,281 shares during the period. SG Americas Securities LLC owned about 0.12% of Nabors Industries worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. MQS Management LLC purchased a new stake in shares of Nabors Industries in the 2nd quarter worth approximately $262,000. Monaco Asset Management SAM purchased a new position in Nabors Industries during the second quarter valued at approximately $210,000. Vanguard Personalized Indexing Management LLC bought a new position in Nabors Industries in the second quarter worth approximately $203,000. American Century Companies Inc. lifted its holdings in Nabors Industries by 7.6% during the second quarter. American Century Companies Inc. now owns 321,800 shares of the oil and gas company’s stock worth $9,017,000 after buying an additional 22,594 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Nabors Industries by 59.5% during the second quarter. Geode Capital Management LLC now owns 338,566 shares of the oil and gas company’s stock worth $9,488,000 after buying an additional 126,243 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Price Performance

NYSE:NBR opened at $62.23 on Wednesday. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.93. The company has a 50 day moving average price of $54.20 and a 200-day moving average price of $44.34. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $68.33. The firm has a market cap of $906.11 million, a price-to-earnings ratio of 6.45 and a beta of 0.94.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported ($3.67) EPS for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). The business had revenue of $825.51 million during the quarter, compared to analysts’ expectations of $824.61 million. Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($6.86) earnings per share. Equities research analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NBR. Piper Sandler upgraded shares of Nabors Industries from an “underweight” rating to an “overweight” rating and raised their price target for the company from $32.00 to $65.00 in a report on Thursday, December 18th. Citigroup increased their target price on shares of Nabors Industries from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Barclays set a $50.00 price target on shares of Nabors Industries and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Wall Street Zen upgraded Nabors Industries from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Susquehanna set a $64.00 target price on Nabors Industries and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.00.

Nabors Industries 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.