Perella Weinberg Partners Capital Management LP purchased a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 49,363 shares of the oil and gas company’s stock, valued at approximately $304,000.
Other hedge funds have also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc purchased a new stake in shares of Nabors Industries during the second quarter valued at about $106,000. Signition LP purchased a new stake in shares of Nabors Industries during the second quarter valued at about $133,000. FNY Investment Advisers LLC lifted its position in shares of Nabors Industries by 19,946.4% during the third quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 21,941 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Nabors Industries during the second quarter valued at about $139,000. Finally, Vanguard Capital Wealth Advisors lifted its position in shares of Nabors Industries by 147.1% during the third quarter. Vanguard Capital Wealth Advisors now owns 29,900 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 17,800 shares during the last quarter. 96.82% of the stock is owned by institutional investors and hedge funds.
In other Nabors Industries news, Director John Yearwood purchased 197,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $5.14 per share, for a total transaction of $1,012,580.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 4.15% of the stock is currently owned by corporate insiders.
Shares of Nabors Industries stock opened at $5.44 on Monday. Nabors Industries Ltd. has a 52 week low of $4.49 and a 52 week high of $8.86. The company has a quick ratio of 1.84, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $1.94 billion, a P/E ratio of -3.34 and a beta of 1.69.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.11). Nabors Industries had a negative return on equity of 14.21% and a negative net margin of 19.25%. The business had revenue of $779.43 million during the quarter, compared to analyst estimates of $800.78 million. During the same quarter last year, the company posted ($0.42) EPS. Nabors Industries’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts expect that Nabors Industries Ltd. will post -1.05 EPS for the current fiscal year.
Several equities analysts recently commented on NBR shares. Citigroup decreased their price objective on shares of Nabors Industries from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, July 11th. ValuEngine raised shares of Nabors Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Morgan Stanley raised shares of Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research report on Thursday, July 12th. Guggenheim reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Nabors Industries in a research report on Friday, October 12th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Nabors Industries in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Nabors Industries presently has an average rating of “Buy” and a consensus target price of $9.04.
About Nabors Industries
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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