6,157 Shares in Nabors Industries Ltd. $NBR Purchased 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 its most recent filing with the SEC. The firm acquired 6,157 shares of the oil and gas company’s stock, valued at approximately $530,000.

Several other large investors have also recently added to or reduced their stakes in NBR. Islay Capital Management LLC acquired a new stake in Nabors Industries in the fourth quarter valued at $26,000. Quarry LP purchased a new stake in shares of Nabors Industries in the 4th quarter worth about $33,000. Aster Capital Management DIFC Ltd acquired a new position in Nabors Industries during the fourth quarter worth about $40,000. State of Wyoming raised its position in shares of Nabors Industries by 106.3% during the 4th quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 677 shares during the last quarter. Finally, CWM LLC increased its position 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 buying an additional 560 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Stock Performance

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

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($2.49) by $0.95. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.The firm had revenue of $783.55 million for the quarter, compared to analyst estimates of $769.33 million. During the same period last year, the company earned $2.18 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts expect that Nabors Industries Ltd. will post -3.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Susquehanna lowered their target price on shares of Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings downgraded Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Piper Sandler raised their price objective on Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $65.00 to $99.00 in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $100.57.

Nabors Industries 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.