Miller Value Partners LLC Has $32.73 Million Position in Nabors Industries Ltd. $NBR

Miller Value Partners LLC decreased its position in shares of Nabors Industries Ltd. (NYSE:NBR) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 602,737 shares of the oil and gas company’s stock after selling 70,358 shares during the quarter. Nabors Industries comprises approximately 11.5% of Miller Value Partners LLC’s investment portfolio, making the stock its largest position. Miller Value Partners LLC’s holdings in Nabors Industries were worth $32,729,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NBR. AQR Capital Management LLC raised its holdings in Nabors Industries by 97.1% during the 1st quarter. AQR Capital Management LLC now owns 16,770 shares of the oil and gas company’s stock worth $699,000 after purchasing an additional 8,260 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Nabors Industries by 11.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 570 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Nabors Industries by 19.1% in the 2nd quarter. Cetera Investment Advisers now owns 8,570 shares of the oil and gas company’s stock valued at $240,000 after acquiring an additional 1,374 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Nabors Industries by 37.0% in the 2nd quarter. Rhumbline Advisers now owns 28,864 shares of the oil and gas company’s stock valued at $809,000 after acquiring an additional 7,799 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Nabors Industries by 3.3% in the 2nd quarter. Invesco Ltd. now owns 55,830 shares of the oil and gas company’s stock valued at $1,564,000 after acquiring an additional 1,764 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

NYSE NBR opened at $88.96 on Thursday. Nabors Industries Ltd. has a 1 year low of $27.18 and a 1 year high of $112.90. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 6.97 and a beta of 0.96. The company has a fifty day moving average price of $94.97 and a 200-day moving average price of $77.19.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $783.55 million during the quarter, compared to analyst estimates of $769.33 million. During the same quarter in the prior year, the business posted $2.18 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Nabors Industries Ltd. will post -3.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NBR. Wall Street Zen lowered shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Barclays upgraded shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $65.00 to $99.00 in a report on Thursday, May 7th. Susquehanna restated a “neutral” rating and issued a $105.00 target price (up from $85.00) on shares of Nabors Industries in a report on Thursday, April 30th. Piper Sandler upped their target price on shares of Nabors Industries from $84.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Citigroup upped their target price on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $103.43.

Nabors Industries 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.