Hosking Partners LLP Makes New Investment in Nabors Industries Ltd. $NBR

Hosking Partners LLP bought a new stake in Nabors Industries Ltd. (NYSE:NBR) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 38,021 shares of the oil and gas company’s stock, valued at approximately $2,970,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of Nabors Industries by 106.6% in the 2nd quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 225 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Nabors Industries during the 3rd quarter worth about $41,000. EverSource Wealth Advisors LLC increased its position in shares of Nabors Industries by 29.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 141 shares in the last quarter. Allworth Financial LP increased its position in shares of Nabors Industries by 16.9% during the 2nd quarter. Allworth Financial LP now owns 1,134 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 164 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Nabors Industries during the 2nd quarter valued at about $101,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Insiders Place Their Bets

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the transaction, the director directly owned 5,264 shares in the company, valued at approximately $485,867.20. This represents a 37.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.32% of the company’s stock.

Nabors Industries Trading Up 0.9%

Shares of NBR opened at $80.76 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24. Nabors Industries Ltd. has a 12-month low of $40.78 and a 12-month high of $112.90. The firm has a market capitalization of $1.29 billion, a PE ratio of 6.01 and a beta of 1.11. The stock’s fifty day simple moving average is $86.04 and its 200-day simple moving average is $88.18.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share (EPS) for the quarter. The firm had revenue of $814.79 million during the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. As a group, research analysts predict that Nabors Industries Ltd. will post -3.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on NBR shares. Barclays set a $93.00 price target on shares of Nabors Industries and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Morgan Stanley set a $110.00 price objective on shares of Nabors Industries in a report on Thursday, August 20th. Zacks Research cut shares of Nabors Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nabors Industries presently has an average rating of “Hold” and an average price target of $103.43.

Nabors Industries Profile

Nabors Industries Ltd. is a global provider of drilling and well-construction services to the oil and gas industry. The company operates land-based drilling rigs and offshore drilling units, serving exploration and production companies developing conventional and unconventional oil and natural gas resources.

Its services and products include contract drilling, directional drilling, measurement-while-drilling and logging-while-drilling technologies, wellbore placement, and drilling-related equipment.