Nabors Industries Ltd. $NBR Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP lowered its position in Nabors Industries Ltd. (NYSE:NBR) by 27.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,127 shares of the oil and gas company’s stock after selling 10,159 shares during the period. Readystate Asset Management LP owned approximately 0.19% of Nabors Industries worth $1,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Nabors Industries by 244.6% in the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Nabors Industries by 58.5% during the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 533 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Nabors Industries by 47.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock valued at $91,000 after purchasing an additional 1,044 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Nabors Industries by 720.6% in the second quarter. Osaic Holdings Inc. now owns 5,703 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 5,008 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Nabors Industries during the 2nd quarter worth about $203,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NBR has been the subject of several analyst reports. Barclays set a $50.00 price objective on Nabors Industries and gave the company a “neutral” rating in a report on Wednesday, December 17th. Wall Street Zen raised Nabors Industries from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Piper Sandler reaffirmed an “overweight” rating and set a $80.00 price objective (up previously from $65.00) on shares of Nabors Industries in a research note on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 target price on shares of Nabors Industries in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $77.00 target price (up from $70.00) on shares of Nabors Industries in a research note 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.00.

Nabors Industries Trading Up 4.5%

Shares of NYSE:NBR opened at $75.16 on Thursday. The business’s 50 day moving average price is $61.41 and its 200-day moving average price is $49.39. Nabors Industries Ltd. has a 1 year low of $23.27 and a 1 year high of $75.57. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 4.56 and a beta of 0.99. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.56 and a quick ratio of 1.93.

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

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.