Tejara Capital Ltd Trims Stock Position in Nabors Industries Ltd. $NBR

Tejara Capital Ltd cut its holdings in Nabors Industries Ltd. (NYSE:NBR) by 20.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,329 shares of the oil and gas company’s stock after selling 17,635 shares during the quarter. Nabors Industries makes up approximately 1.4% of Tejara Capital Ltd’s portfolio, making the stock its 26th largest holding. Tejara Capital Ltd’s holdings in Nabors Industries were worth $2,752,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NBR. Adage Capital Partners GP L.L.C. lifted its stake in Nabors Industries by 25.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company’s stock valued at $21,015,000 after buying an additional 150,000 shares in the last quarter. Apollo Management Holdings L.P. lifted its position in shares of Nabors Industries by 54.2% in the second quarter. Apollo Management Holdings L.P. now owns 650,623 shares of the oil and gas company’s stock valued at $18,230,000 after acquiring an additional 228,787 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Nabors Industries by 59.5% during the second quarter. Geode Capital Management LLC now owns 338,566 shares of the oil and gas company’s stock valued at $9,488,000 after acquiring an additional 126,243 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Nabors Industries by 7.6% during the second 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 last quarter. Finally, Jump Financial LLC increased its position in Nabors Industries by 360.9% during the 2nd quarter. Jump Financial LLC now owns 118,878 shares of the oil and gas company’s stock worth $3,331,000 after purchasing an additional 93,086 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NBR has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price target on shares of Nabors Industries in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Citigroup boosted their price target on Nabors Industries from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Susquehanna set a $64.00 price objective on Nabors Industries and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.14.

Nabors Industries Stock Down 0.2%

Shares of NYSE NBR opened at $66.91 on Friday. The stock has a market capitalization of $974.27 million, a PE ratio of 6.93 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. The firm has a fifty day moving average of $57.20 and a 200-day moving average of $46.10. Nabors Industries Ltd. has a 52-week low of $23.27 and a 52-week high of $70.61.

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.