Nabors Industries Ltd. (NYSE:NBR) Short Interest Update

Nabors Industries Ltd. (NYSE:NBR) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 1,473,856 shares, a drop of 19.9% from the December 15th total of 1,840,161 shares. Based on an average trading volume of 298,267 shares, the short-interest ratio is presently 4.9 days. Approximately 10.9% of the company’s shares are short sold. Approximately 10.9% of the company’s shares are short sold. Based on an average trading volume of 298,267 shares, the short-interest ratio is presently 4.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NBR. CWM LLC boosted its position in Nabors Industries by 244.6% during the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 631 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Nabors Industries by 58.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock worth $40,000 after buying an additional 533 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Nabors Industries by 23.0% during the 3rd 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 during the period. Russell Investments Group Ltd. grew its stake in Nabors Industries by 153.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,222 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 1,953 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in Nabors Industries by 47.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock worth $91,000 after acquiring an additional 1,044 shares during the period. 81.92% of the stock is owned by institutional investors.

Nabors Industries Stock Up 0.4%

NBR stock traded up $0.22 during trading hours on Monday, hitting $62.10. The company’s stock had a trading volume of 204,266 shares, compared to its average volume of 326,218. The stock has a 50 day moving average price of $53.79 and a two-hundred day moving average price of $43.90. Nabors Industries has a 12 month low of $23.27 and a 12 month high of $69.20. The company has a market capitalization of $904.22 million, a PE ratio of 6.44 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 2.09 and a debt-to-equity ratio of 2.50.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.37) by ($1.30). The business had revenue of $825.51 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($6.86) EPS. On average, equities research analysts expect that Nabors Industries will post -6.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NBR. Piper Sandler raised shares of Nabors Industries from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $65.00 in a research note on Thursday, December 18th. Citigroup raised their target price on Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Morgan Stanley set a $65.00 price target on Nabors Industries in a report on Monday, December 15th. Susquehanna set a $64.00 price target on Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen upgraded Nabors Industries from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.00.

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.