6,157 Shares in Nabors Industries Ltd. $NBR Acquired by HB Wealth Management LLC

HB Wealth Management LLC acquired a new stake in Nabors Industries Ltd. (NYSE:NBR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,157 shares of the oil and gas company’s stock, valued at approximately $530,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Nabors Industries by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company’s stock worth $47,298,000 after acquiring an additional 13,424 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Nabors Industries by 77.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,313 shares of the oil and gas company’s stock valued at $2,751,000 after acquiring an additional 29,408 shares during the last quarter. De Lisle Partners LLP acquired a new stake in Nabors Industries in the 4th quarter valued at about $1,542,000. Jennison Associates LLC purchased a new position in Nabors Industries in the 4th quarter worth approximately $1,029,000. Finally, UBS Group AG lifted its stake in Nabors Industries by 8.7% in the 4th quarter. UBS Group AG now owns 72,764 shares of the oil and gas company’s stock worth $3,951,000 after purchasing an additional 5,830 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup increased their price target on Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Weiss Ratings cut Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $100.00 target price (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Susquehanna reduced their price target on Nabors Industries from $105.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Piper Sandler boosted their price target on shares of Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.57.

Nabors Industries Trading Up 2.2%

Shares of NBR stock traded up $1.80 on Friday, hitting $82.08. The stock had a trading volume of 179,755 shares, compared to its average volume of 286,349. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. The firm has a market capitalization of $1.21 billion, a P/E ratio of 6.43 and a beta of 0.96. The company’s 50 day moving average price is $93.82 and its 200-day moving average price is $80.40. Nabors Industries Ltd. has a 1 year low of $29.50 and a 1 year high of $112.90.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($2.49) by $0.95. The business had revenue of $783.55 million during the quarter, compared to the consensus estimate of $769.33 million. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 earnings per share. Analysts anticipate that Nabors Industries Ltd. will post -3.12 earnings per share for the current year.

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.