Nabors Industries Ltd. $NBR Shares Sold by SG Americas Securities LLC

by · The Cerbat Gem

SG Americas Securities LLC trimmed its holdings in Nabors Industries Ltd. (NYSE:NBR – Free Report) by 45.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,336 shares of the oil and gas company’s stock after selling 16,281 shares during the period. SG Americas Securities LLC’s holdings in Nabors Industries were worth $790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CWM LLC lifted its position in Nabors Industries by 244.6% in the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Nabors Industries by 58.5% during the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 533 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Nabors Industries by 47.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock valued at $91,000 after acquiring an additional 1,044 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings 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 worth $231,000 after acquiring an additional 570 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Nabors Industries by 720.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,703 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 5,008 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Trading Up 0.3%

Shares of Nabors Industries stock opened at $62.23 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 2.50. The company has a fifty day simple moving average of $54.20 and a 200-day simple moving average of $44.34. The stock has a market cap of $906.11 million, a price-to-earnings ratio of 6.45 and a beta of 0.94. Nabors Industries Ltd. has a 12-month low of $23.27 and a 12-month high of $68.33.

Nabors Industries (NYSE:NBR – Get Free Report) last announced its earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). Nabors Industries had a negative return on equity of 30.85% and a net margin of 7.08%.The business had revenue of $825.51 million for the quarter, compared to analysts’ expectations of $824.61 million. During the same quarter last year, the business posted ($6.86) earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup raised their price target on Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nabors Industries in a research note on Monday, December 29th. Barclays set a $50.00 target price on Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Wall Street Zen raised shares of Nabors Industries from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Susquehanna set a $64.00 price objective on shares of Nabors Industries and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.00.

Get Our Latest Analysis on NBR

About Nabors Industries

(Free Report)

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.

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