Empowered Funds LLC Acquires 19,286 Shares of Nabors Industries Ltd. $NBR

Empowered Funds LLC increased its holdings in shares of Nabors Industries Ltd. (NYSE:NBR) by 41.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 65,665 shares of the oil and gas company’s stock after acquiring an additional 19,286 shares during the period. Empowered Funds LLC’s holdings in Nabors Industries were worth $5,651,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Islay Capital Management LLC bought a new position in Nabors Industries in the fourth quarter valued at $26,000. Quarry LP bought a new stake in Nabors Industries during the 4th quarter worth about $33,000. Aster Capital Management DIFC Ltd bought a new stake in Nabors Industries during the 4th quarter worth about $40,000. State of Wyoming boosted its stake 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 buying an additional 677 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Nabors Industries by 63.0% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

NBR has been the subject of several analyst reports. Weiss Ratings cut Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Citigroup upped their target price on Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Wall Street Zen cut Nabors Industries from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley restated an “overweight” rating and issued a $100.00 price target (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Finally, Zacks Research raised Nabors Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nabors Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Nabors Industries Stock Performance

Shares of NBR stock opened at $85.28 on Friday. The company has a fifty day moving average price of $87.61 and a two-hundred day moving average price of $83.16. Nabors Industries Ltd. has a one year low of $30.90 and a one year high of $112.90. The stock has a market cap of $1.26 billion, a P/E ratio of 6.35 and a beta of 0.96. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.82.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. The firm had revenue of $814.79 million for the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%. As a group, equities analysts predict that Nabors Industries Ltd. will post -2.96 EPS for the current year.

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.