Nabors IndustriesNBR
Market Cap: $631M
About: Nabors Industries Ltd owns and operates land-based drilling rig fleets and is a provider of offshore platform rigs in the United States and international markets. It also provides performance tools, directional drilling services, tubular running services, and innovative technologies. It has operations in over 15 countries, 291 actively marketed rigs for land-based drilling operations and 28 actively marketed rigs for offshore platform drilling operations in the United States and multiple international markets. The company has five reportable segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The key revenue of the company is generated from International Drilling.
Employees: 12,000
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
100% more funds holding in top 10
Funds holding in top 10: 2 [Q1] → 4 (+2) [Q2]
13% more repeat investments, than reductions
Existing positions increased: 59 | Existing positions reduced: 52
4.66% more ownership
Funds ownership: 79.36% [Q1] → 84.02% (+4.66%) [Q2]
5% less funds holding
Funds holding: 185 [Q1] → 175 (-10) [Q2]
12% less capital invested
Capital invested by funds: $647M [Q1] → $571M (-$76.4M) [Q2]
26% less first-time investments, than exits
New positions opened: 28 | Existing positions closed: 38
50% less call options, than puts
Call options by funds: $16M | Put options by funds: $32.2M
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
RBC Capital Keith Mackey 22% 1-year accuracy 4 / 18 met price target | 73%upside $114 | Sector Perform Reiterated | 25 Jul 2024 |
Citigroup Scott Gruber 26% 1-year accuracy 8 / 31 met price target | 38%upside $91 | Buy Maintained | 10 Jul 2024 |