Lombard Odier Asset Management USA Corp Has $2.53 Million Position in Nabors Industries Ltd. $NBR

Lombard Odier Asset Management USA Corp lessened its holdings in Nabors Industries Ltd. (NYSE:NBR) by 40.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,000 shares of the oil and gas company’s stock after selling 41,546 shares during the quarter. Lombard Odier Asset Management USA Corp owned approximately 0.43% of Nabors Industries worth $2,534,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. grew its holdings in Nabors Industries by 25.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company’s stock worth $21,015,000 after acquiring an additional 150,000 shares during the last quarter. Apollo Management Holdings L.P. raised its stake in shares of Nabors Industries by 54.2% during 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 during the last quarter. Highbridge Capital Management LLC lifted its holdings in shares of Nabors Industries by 26.9% during the third quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock worth $20,100,000 after purchasing an additional 104,219 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Nabors Industries by 10.6% during the third quarter. Cibc World Market Inc. now owns 489,507 shares of the oil and gas company’s stock worth $20,006,000 after purchasing an additional 46,802 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Nabors Industries by 10.3% in the third quarter. American Century Companies Inc. now owns 354,901 shares of the oil and gas company’s stock worth $14,505,000 after purchasing an additional 33,101 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Price Performance

Shares of NYSE NBR opened at $76.16 on Tuesday. Nabors Industries Ltd. has a twelve month low of $23.27 and a twelve month high of $83.01. The firm has a fifty day simple moving average of $70.21 and a 200 day simple moving average of $55.03. The company has a market capitalization of $1.12 billion, a PE ratio of 4.62 and a beta of 0.89. The company has a quick ratio of 1.47, a current ratio of 1.56 and a debt-to-equity ratio of 2.22.

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, beating analysts’ consensus estimates of ($2.93) by $3.10. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The business had revenue of $805.13 million for the quarter, compared to analysts’ expectations of $795.82 million. During the same quarter in the prior year, the firm posted ($6.67) earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NBR. Weiss Ratings restated a “hold (c-)” rating on shares of Nabors Industries in a report on Monday, December 29th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $77.00 price target (up from $70.00) on shares of Nabors Industries in a research report on Friday, February 13th. Susquehanna reissued a “neutral” rating and issued a $70.00 price target (up from $64.00) on shares of Nabors Industries in a research note on Friday, February 13th. Wall Street Zen downgraded Nabors Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $80.00 price objective (up from $65.00) on shares of Nabors Industries in a research note on Tuesday, February 17th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.00.

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.