Nabors Industries Ltd. $NBR Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 77.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,834 shares of the oil and gas company’s stock after purchasing an additional 20,949 shares during the quarter. HighTower Advisors LLC owned 0.33% of Nabors Industries worth $2,597,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its holdings in Nabors Industries by 63.0% during the fourth quarter. CWM LLC now owns 1,449 shares of the oil and gas company’s stock worth $79,000 after purchasing an additional 560 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Nabors Industries by 23.0% during 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 purchasing an additional 289 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Nabors Industries by 153.9% during the third quarter. Russell Investments Group Ltd. now owns 3,222 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 1,953 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Nabors Industries during the fourth quarter worth $223,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Nabors Industries during the third quarter worth $207,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings cut Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. UBS Group set a $70.00 price target on Nabors Industries in a report on Friday, February 13th. Citigroup boosted their price target on Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Morgan Stanley reissued an “overweight” rating and issued a $100.00 price target (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Finally, Piper Sandler boosted their price target on Nabors Industries from $84.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and an average target price of $103.43.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $92.93 on Monday. The company has a market cap of $1.38 billion, a P/E ratio of 7.28 and a beta of 0.96. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 2.22. Nabors Industries Ltd. has a 52 week low of $25.27 and a 52 week high of $112.90. The business has a fifty day simple moving average of $91.67 and a 200-day simple moving average of $72.76.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 8.66% and a net margin of 7.32%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. Equities research analysts forecast that Nabors Industries Ltd. will post -3.52 EPS for the current year.

About Nabors Industries

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.