Thomist Capital Management LP Takes Position in Nabors Industries Ltd. (NYSE:NBR)

Thomist Capital Management LP purchased a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,000 shares of the oil and gas company’s stock, valued at approximately $1,085,000. Thomist Capital Management LP owned about 0.19% of Nabors Industries at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nabors Industries by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company’s stock valued at $299,000 after buying an additional 228 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Nabors Industries by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company’s stock valued at $502,000 after buying an additional 459 shares during the last quarter. US Bancorp DE lifted its position in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 505 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Nabors Industries by 8.8% during the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 563 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Nabors Industries by 2.7% during the fourth quarter. Federated Hermes Inc. now owns 29,874 shares of the oil and gas company’s stock worth $1,708,000 after purchasing an additional 798 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Stock Performance

Shares of Nabors Industries stock opened at $29.89 on Friday. The firm has a market capitalization of $287.03 million, a P/E ratio of -1.34 and a beta of 1.96. Nabors Industries Ltd. has a 52 week low of $25.11 and a 52 week high of $105.96. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The firm’s 50 day moving average is $33.57 and its two-hundred day moving average is $51.31.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The firm had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. Nabors Industries’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.54) earnings per share. Research analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Susquehanna cut their target price on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley cut their target price on shares of Nabors Industries from $75.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup cut their target price on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada dropped their price target on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.