Tejara Capital Ltd Lowers Stock Holdings in Nabors Industries Ltd. $NBR

Tejara Capital Ltd cut its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 20.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,329 shares of the oil and gas company’s stock after selling 17,635 shares during the period. Nabors Industries makes up 1.4% of Tejara Capital Ltd’s investment portfolio, making the stock its 26th biggest holding. Tejara Capital Ltd owned 0.43% of Nabors Industries worth $2,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of Nabors Industries by 97.1% in the first quarter. AQR Capital Management LLC now owns 16,770 shares of the oil and gas company’s stock valued at $699,000 after purchasing an additional 8,260 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Nabors Industries by 11.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock valued at $231,000 after buying an additional 570 shares during the period. Inspire Investing LLC raised its position in Nabors Industries by 67.1% during the 2nd quarter. Inspire Investing LLC now owns 13,831 shares of the oil and gas company’s stock worth $388,000 after buying an additional 5,552 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nabors Industries in the 2nd quarter worth $203,000. Finally, Ethic Inc. purchased a new stake in shares of Nabors Industries in the second quarter valued at about $220,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Stock Performance

NYSE NBR opened at $66.91 on Friday. The business has a 50 day moving average price of $57.20 and a 200 day moving average price of $46.10. The company has a market capitalization of $974.27 million, a P/E ratio of 6.93 and a beta of 0.94. Nabors Industries Ltd. has a 1-year low of $23.27 and a 1-year high of $70.61. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.93.

Analyst Ratings Changes

Several research firms recently issued reports on NBR. Morgan Stanley reissued an “overweight” rating and set a $80.00 price target on shares of Nabors Industries in a report on Wednesday, January 21st. Barclays set a $50.00 target price on Nabors Industries and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of Nabors Industries in a research note on Thursday, January 15th. Piper Sandler upgraded Nabors Industries from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $65.00 in a research report on Thursday, December 18th. Finally, Citigroup raised their target price on Nabors Industries from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nabors Industries has an average rating of “Hold” and an average price target of $59.14.

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.