GSA Capital Partners LLP Has $1.60 Million Holdings in Nabors Industries Ltd. $NBR

GSA Capital Partners LLP increased its holdings in Nabors Industries Ltd. (NYSE:NBR) by 306.4% during the fourth quarter, HoldingsChannel reports. The fund owned 29,498 shares of the oil and gas company’s stock after acquiring an additional 22,239 shares during the quarter. GSA Capital Partners LLP’s holdings in Nabors Industries were worth $1,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of 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 worth $14,505,000 after acquiring an additional 33,101 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 worth $47,298,000 after acquiring an additional 13,424 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Nabors Industries in the 3rd quarter worth about $1,063,000. Highbridge Capital Management LLC raised its holdings in shares of Nabors Industries by 26.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock worth $20,100,000 after acquiring an additional 104,219 shares during the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of 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 worth $20,006,000 after acquiring an additional 46,802 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Trading Down 2.1%

NYSE:NBR opened at $108.34 on Wednesday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.82 and a current ratio of 1.97. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 8.48 and a beta of 1.01. Nabors Industries Ltd. has a 52 week low of $23.27 and a 52 week high of $112.90. The firm has a 50-day moving average price of $88.07 and a two-hundred day moving average price of $69.95.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Piper Sandler increased their price objective on shares of Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Citigroup increased their price objective on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Susquehanna reiterated a “neutral” rating and issued a $105.00 price objective (up from $85.00) on shares of Nabors Industries in a research note on Thursday, April 30th. Finally, Wall Street Zen lowered shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.63.

About Nabors Industries

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.