Renaissance Technologies LLC Buys 11,800 Shares of Nabors Industries Ltd. $NBR

Renaissance Technologies LLC lifted its stake in Nabors Industries Ltd. (NYSE:NBR) by 236.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,800 shares of the oil and gas company’s stock after buying an additional 11,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Nabors Industries were worth $1,446,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NBR. Kestra Advisory Services LLC increased its holdings in Nabors Industries by 0.7% in the 1st quarter. Kestra Advisory Services LLC now owns 24,937 shares of the oil and gas company’s stock valued at $2,146,000 after acquiring an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Nabors Industries by 2.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,634 shares of the oil and gas company’s stock valued at $469,000 after purchasing an additional 173 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Nabors Industries by 23.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 289 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Nabors Industries by 24.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 341 shares in the last quarter. Finally, Nebula Research & Development LLC increased its holdings in shares of Nabors Industries by 2.5% in the second quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 428 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $130.00 price target (up from $120.00) on shares of Nabors Industries in a research note on Thursday, July 30th. Royal Bank Of Canada lifted their price objective on Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Wall Street Zen cut Nabors Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Citigroup increased their target price on Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Susquehanna cut their target price on shares of Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.14.

Nabors Industries Stock Up 1.6%

Shares of NYSE:NBR opened at $89.62 on Thursday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 6.67 and a beta of 0.98. Nabors Industries Ltd. has a 12 month low of $31.10 and a 12 month high of $112.90. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 2.24. The company has a 50-day moving average price of $85.69 and a 200 day moving average price of $84.55.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%.The company had revenue of $814.79 million for the quarter. As a group, equities research analysts predict that Nabors Industries Ltd. will post -2.96 earnings per share for the current year.

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.