Highbridge Capital Management LLC Cuts Stock Holdings in Nabors Industries Ltd. $NBR

Highbridge Capital Management LLC lowered its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 413,294 shares of the oil and gas company’s stock after selling 78,501 shares during the period. Highbridge Capital Management LLC’s holdings in Nabors Industries were worth $22,442,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NBR. American Century Companies Inc. grew its stake in Nabors Industries by 10.3% in the 3rd quarter. American Century Companies Inc. now owns 354,901 shares of the oil and gas company’s stock valued at $14,505,000 after buying an additional 33,101 shares during the last quarter. Vanguard Group Inc. grew its stake in Nabors Industries by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company’s stock valued at $47,298,000 after buying an additional 13,424 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in Nabors Industries in the 3rd quarter valued at about $1,063,000. Cibc World Market Inc. boosted its holdings in Nabors Industries by 10.6% in the 3rd quarter. Cibc World Market Inc. now owns 489,507 shares of the oil and gas company’s stock valued at $20,006,000 after purchasing an additional 46,802 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Nabors Industries by 77.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,313 shares of the oil and gas company’s stock valued at $2,751,000 after purchasing an additional 29,408 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

NYSE NBR opened at $95.83 on Friday. The firm has a 50-day moving average price of $92.89 and a two-hundred day moving average price of $74.21. Nabors Industries Ltd. has a 12-month low of $27.18 and a 12-month high of $112.90. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $1.42 billion, a P/E ratio of 7.50 and a beta of 0.96.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.49) by $0.95. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The company had revenue of $783.55 million during the quarter, compared to the consensus estimate of $769.33 million. During the same quarter in the prior year, the firm posted $2.18 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts anticipate that Nabors Industries Ltd. will post -3.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NBR shares. Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $65.00 to $99.00 in a report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and issued a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Citigroup boosted their price objective on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Susquehanna reissued a “neutral” rating and issued a $105.00 price objective (up from $85.00) on shares of Nabors Industries in a report on Thursday, April 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and a consensus price target of $103.43.

Nabors Industries Company 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.