Nabors Industries Ltd. (NYSE:NBR) Shares Acquired by Miller Value Partners LLC

by · The Cerbat Gem

Miller Value Partners LLC grew its stake in Nabors Industries Ltd. (NYSE:NBR – Free Report) by 99.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,195 shares of the oil and gas company’s stock after buying an additional 140,230 shares during the period. Nabors Industries accounts for about 6.9% of Miller Value Partners LLC’s holdings, making the stock its 3rd biggest holding. Miller Value Partners LLC’s holdings in Nabors Industries were worth $16,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBR. Barclays PLC raised its holdings in shares of Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after purchasing an additional 42,483 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nabors Industries by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company’s stock worth $13,286,000 after purchasing an additional 3,054 shares during the last quarter. Inspire Investing LLC lifted its stake in Nabors Industries by 8.8% in the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock valued at $397,000 after purchasing an additional 563 shares during the last quarter. R Squared Ltd bought a new position in Nabors Industries during the fourth quarter valued at $70,000. Finally, Entropy Technologies LP increased its position in Nabors Industries by 65.5% in the fourth quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company’s stock worth $880,000 after buying an additional 6,095 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Susquehanna reduced their price target on Nabors Industries from $45.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Barclays decreased their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and one has assigned a buy 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 $71.17.

Check Out Our Latest Research Report on Nabors Industries

Nabors Industries Price Performance

NBR stock opened at $29.53 on Friday. The firm has a 50 day simple moving average of $37.48 and a two-hundred day simple moving average of $56.52. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The stock has a market cap of $283.61 million, a PE ratio of -1.32 and a beta of 1.49. Nabors Industries Ltd. has a one year low of $25.11 and a one year high of $105.96.

Nabors Industries (NYSE:NBR – Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. On average, analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Nabors Industries Company Profile

(Free Report)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.

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