Highbridge Capital Management LLC Raises Holdings in Nabors Industries Ltd. $NBR

Highbridge Capital Management LLC increased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 26.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 491,795 shares of the oil and gas company’s stock after purchasing an additional 104,219 shares during the period. Nabors Industries makes up about 0.9% of Highbridge Capital Management LLC’s portfolio, making the stock its 28th biggest position. Highbridge Capital Management LLC’s holdings in Nabors Industries were worth $20,100,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

NBR has been the topic of a number of recent research reports. Barclays set a $50.00 price objective on Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Nabors Industries in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nabors Industries in a research note on Monday, December 29th. Citigroup lifted their price target on shares of Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Finally, UBS Group set a $70.00 price target on Nabors Industries in a research report on Friday, February 13th. Two equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.00.

Nabors Industries Stock Performance

NBR opened at $78.05 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.56 and a debt-to-equity ratio of 2.22. Nabors Industries Ltd. has a 52-week low of $23.27 and a 52-week high of $78.26. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 4.73 and a beta of 0.99. The firm’s fifty day simple moving average is $62.27 and its two-hundred day simple moving average is $50.01.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($2.93) by $3.10. The business had revenue of $805.13 million for the quarter, compared to analysts’ expectations of $795.82 million. Nabors Industries had a negative return on equity of 17.63% and a net margin of 8.92%.The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($6.67) EPS. Equities analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal 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.