Susquehanna Fundamental Investments LLC Increases Position in Nabors Industries Ltd. (NYSE:NBR)

Susquehanna Fundamental Investments LLC lifted its stake in Nabors Industries Ltd. (NYSE:NBR) by 92.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,540 shares of the oil and gas company’s stock after acquiring an additional 5,075 shares during the period. Susquehanna Fundamental Investments LLC owned 0.10% of Nabors Industries worth $750,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Nabors Industries by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 181 shares in the last quarter. AQR Capital Management LLC raised its stake in Nabors Industries by 14.5% in the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after buying an additional 601 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in Nabors Industries by 8.8% in the second quarter. Ensign Peak Advisors Inc now owns 8,649 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 700 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Nabors Industries in the second quarter worth about $359,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Nabors Industries during the second quarter worth about $1,242,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NBR shares. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $75.00 in a report on Friday, September 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $114.00 target price on shares of Nabors Industries in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nabors Industries presently has a consensus rating of “Hold” and an average target price of $104.50.

Nabors Industries Price Performance

NBR stock opened at $71.25 on Thursday. Nabors Industries Ltd. has a 52-week low of $59.67 and a 52-week high of $127.56. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 5.01. The stock has a market cap of $762.52 million, a price-to-earnings ratio of -5.16 and a beta of 2.11. The business has a fifty day moving average of $76.66 and a two-hundred day moving average of $76.44.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The company had revenue of $742.98 million for the quarter, compared to analyst estimates of $737.91 million. Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. Nabors Industries’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.26) earnings per share. As a group, research analysts anticipate that Nabors Industries Ltd. will post -12.47 earnings per share for the current year.

About Nabors Industries

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.