Nabors Industries Ltd. (NYSE:NBR) reached 50.28% versus a 1-year low price of $1.81. The stock was last seen 29.52% higher, reaching at $2.72 on 7/30/2019. At a recent session, the prices were hovering between $1.99 and $2.75. This company shares are 59.19% off its target price of $4.33 and the current market capitalization stands at $1.12B. The recent change has given its price a 8.42% lead over SMA 50 and -60.29% deficit over its 52-week high. The stock witnessed -6.21% declines, -22.29% declines and -7.8% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found NBR’s volatility during a week at 14.86% and during a month it has been found around 9.38%.
What Does Nabors Industries Ltd. (NBR) Do?
The company describes itself in regulatory filings as, “Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It operates through the following segmetns: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The U.S. segment includes land drilling activities in states and Alaska as well as offshore operations in the Gulf of Mexico. The Canada segment consists of land-based drilling rigs in Canada. The International segment focuses in maintaining a footprint in the oil and gas market, most notably in Saudi Arabia, Algeria, Argentina, Colombia, Kazakhstan and Venezuela. The Drilling Solutions segment offers drilling technologies, such as patented steering systems and rig instrumentation software systems that enhance drilling performance and wellbore placement. The Rig Technologies segment comprises of Canrig, which manufactures and sells top drives, catwalks, wrenches, drawworks, and drilling related equipment such as robotic systems and downhole tools. The company was founded by Clair Nabors in 1952 and is headquartered in Hamilton, Bermuda.” [Text can be found here: https://www.marketwatch.com/investing/stock/NBR/profile under company description.]Nabors Industries Ltd. (NBR) Top Holders
Institutional investors currently hold around $624 million or 83.7% in NBR stock. Look at its top three institutional owners: Blackrock Inc. owns $88.56 million in Nabors Industries Ltd., which represents roughly 7.91% of the company’s market cap and approximately 14.19% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 36,280,708 shares of the stock are valued at $76.19 million. The third largest holder is Fmr Llc, which currently holds $64.52 million worth of this stock and that ownership represents nearly 5.76% of its market capitalization.
At the end of March reporting period, 131 institutional holders increased their position in Nabors Industries Ltd. (NYSE:NBR) by some 46,692,646 shares, 130 decreased positions by 60,654,312 and 54 held positions by 189,786,409. That puts total institutional holdings at 297,133,367 shares, according to SEC filings. The stock grabbed 40 new institutional investments totaling 11,653,909 shares while 37 institutional investors sold out their entire positions totaling 21,505,855 shares.Nabors Industries Ltd. (NYSE:NBR) Insider Trades
Multiple company employees have indulged in significant insider trading. Nabors Industries Ltd. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that CFO Restrepo William J has acquired 177,100 shares of Nabors Industries Ltd. (NBR) in the trading session dated Jun. 14, 2019. These shares are worth $359,513 and were traded at $2.03 each. The SEC filing shows that Kotts John P performed a purchase of 100,000 shares. The Director added these shares by way of transaction on Nov. 06, 2018. The company’s shares were assimilated at $5.61 per share worth to an investment of some $561,000 to the account of Kotts John P.
Director, YEARWOOD JOHN, purchased 197,000 common shares of Nabors Industries Ltd. (NBR) in the open market. In a transaction dated Nov. 01, 2018, the shares were bought at an average price of $5.14, giving away a sum of $1,012,580. After this purchase, 397,434 common shares of NBR are directly owned by the insider, with total stake valued at $1,081,021.
In the transaction dated May. 30, 2017, a great number of shares acquired came courtesy the CFO; Restrepo William J added a total of 22,000 shares at an average price of $8.25, amounting to approximately $181,500. The insider now directly owns 961,694 shares worth $2,615,808.Nabors Industries Ltd. (NBR) Analyst Guide
Several analysts have released their opinion on Nabors Industries Ltd. (NYSE:NBR), with 6 analysts believing it is a strong buy. Whereas 11 of them predict the stock is a hold. Also, there are 7 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.21 average brokerage recommendation [T1].