Nabors Industries Ltd. $NBR Shares Newly Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC bought a new stake in Nabors Industries Ltd. (NYSE:NBR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,526 shares of the oil and gas company’s stock, valued at approximately $822,000. Ellsworth Advisors LLC owned about 0.07% of Nabors Industries as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc raised its position in Nabors Industries by 106.6% during the 2nd quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company’s stock worth $37,000 after buying an additional 225 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Nabors Industries during the 3rd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its stake in 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 valued at $54,000 after acquiring an additional 141 shares during the period. Allworth Financial LP boosted its holdings in shares of Nabors Industries by 16.9% in the 2nd quarter. Allworth Financial LP now owns 1,134 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 164 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Nabors Industries in the 2nd quarter valued at $101,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Insider Buying and Selling at Nabors Industries

In other news, Director David Tudor sold 3,200 shares of Nabors Industries stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the completion of the transaction, the director directly owned 5,264 shares of the company’s stock, valued at $485,867.20. The trade was a 37.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NBR has been the subject of several recent research reports. Zacks Research cut shares of Nabors Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Piper Sandler restated an “overweight” rating and set a $130.00 target price (up from $120.00) on shares of Nabors Industries in a research report on Thursday, July 30th. Susquehanna reaffirmed a “neutral” rating and issued a $91.00 price target (up from $85.00) on shares of Nabors Industries in a report on Monday, October 5th. Barclays set a $93.00 price target on Nabors Industries and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley set a $110.00 price target on Nabors Industries in a research report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and a consensus target price of $103.43.

Nabors Industries Trading Down 1.9%

Shares of NYSE:NBR opened at $76.73 on Friday. Nabors Industries Ltd. has a 12-month low of $39.18 and a 12-month high of $112.90. The company has a market capitalization of $1.22 billion, a PE ratio of 5.71 and a beta of 1.11. The business has a 50 day moving average of $86.63 and a two-hundred day moving average of $88.28. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 2.24.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. The company had revenue of $814.79 million during the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%. As a group, analysts forecast that Nabors Industries Ltd. will post -3.65 EPS for the current year.

About Nabors Industries

Nabors Industries Ltd. (NYSE:NBR) is an international drilling contractor that provides land-based and offshore drilling services to oil and natural gas exploration and production companies. The company operates a fleet of drilling rigs and supplies related equipment, personnel and technical expertise for drilling and well-construction projects.

Its services include contract land drilling, offshore drilling, directional drilling and drilling-related services. Nabors also develops and provides drilling automation, software and other technologies intended to improve operational efficiency, safety and well placement.