Parametric Portfolio Associates L. recently announced the acquisition of new stake in Nabors Industries Ltd. (NYSE:NBR). The institutional investor has increased its shareholding in the Energy company by 3,790.58% to 2.34 million shares with purchase of 2.28 million shares. This fresh investment now brings its stake to 32.06% valued currently at $86.73 million. In addition, RhumbLine Advisers LP raised its holdings by 1.14 million to 1.16 million shares. And The Vanguard Group, Inc. has lifted its position by 5.74% or 42450.0 shares – to 0.78 million shares.
With over 1.11 million Nabors Industries Ltd. (NBR) shares trading Friday and a closing price of $29.87 on the day, the dollar volume was approximately $33.05 million. The shares have shown a negative weekly performance of -13.67% and its price on 07/10/20 lost nearly -5.80%. Currently, there are 7.05M common shares owned by the public and among those 6.38M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for NBR have a consensus price objective of $28.36. The analysts have set the share’s price value over the next 12 months at a high of $65.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Nabors Industries Ltd. stock is 3.50 for the next 12 months. The average price target is -38.93% below its last price level and a downside to the estimated low will see the stock lose -198.7% over that period. But an upside of 54.05% will see the stock hit the forecast high price target while mean target price for the stock is $22.00.
Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 4,235,423 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 921,294 shares.
Shares of Nabors Industries Ltd. (NYSE: NBR) opened at $31.27, down -$0.44 from a prior closing price of $31.71. However, the script later closed the day at $29.87, down -5.80%. The company’s stock has a 5-day price change of -13.67% and 58.59% over the past three months. NBR shares are trading -79.26% year to date (YTD), with the 12-month market performance down to -77.54% lower. It has a 12-month low price of $9.79 and touched a high of $167.50 over the same period. Currently, 1.11 million shares have been traded, compared to an average intraday trading volume of 1.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -27.77%, -13.59%, and -60.01% respectively.
Institutional ownership of Nabors Industries Ltd. (NYSE: NBR) shares accounts for 77.20% of the company’s 7.05M shares outstanding. Mutual fund holders own 50.32%, while other institutional holders and individual stakeholders account for 97.99% and — respectively.
It has a market capitalization of $222.23M and a beta (3y monthly) value of 3.25. The earnings-per-share (ttm) stands at -$143.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.88% over the week and 13.91% over the month.
Analysts forecast that Nabors Industries Ltd. (NBR) will achieve an EPS of -$24.02 for the current quarter, -$26.73 for the next quarter and -$105.8 for 2021. The lowest estimate earnings-per-share for the quarter is -$32.56 while analysts give the company a high EPS estimate of -$14.16. Comparatively, EPS for the current quarter was -$30.5 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.20%, and -28.60% over the next financial year. EPS should shrink at an annualized rate of -12.60% over the next five years, compared to 2.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Nabors Industries Ltd. (NBR) as a “Hold” at a consensus score of 3.50. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 10 of the 21 advise that investors “hold,” and 8 rated it as a “Sell.”
Looking at the support for the NBR, a number of firms have released research notes about the stock. Morgan Stanley stated their Underweight rating for the stock in a research note on July 08, 2020, with the firm’s price target at $25. Scotiabank coverage for the Nabors Industries Ltd. (NBR) stock in a research note released on April 13, 2020 offered a Sector Underperform rating with a price target of. Wolfe Research was of a view on March 19, 2020 that the stock is Underperform, while Barclays gave the stock Underweight rating on March 19, 2020, issuing a price target of. CapitalOne on their part issued Equal Weight rating on March 17, 2020.