Nabors Industries (NBR)

• Market cap: $637M
• 1 day: -4.61%
• 5 days: -8.73%
• 1 month: -20.99%
• 3 months: 0.94%
• 6 months: -0.83%
• Year to date: -17.55%
• 1 year: -15.82%
• 5 years: -43.50%
• 10 years: -88.16%
• Sector: Energy
• Industry: Drilling Oil & Gas Wells

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 Q3 regulatory filings by fund managers ($100M+ AUM)

50% more funds holding in top 10

Funds holding in top 10: 4 [Q2] → 6 (+2) [Q3]

32% more first-time investments, than exits

New positions opened: 41 | Existing positions closed: 31

6% more funds holding

Funds holding: 175 [Q2] → 185 (+10) [Q3]

2% less repeat investments, than reductions

Existing positions increased: 51 | Existing positions reduced: 52

4.9% less ownership

Funds ownership: 86.02% [Q2] → 81.12% (-4.9%) [Q3]

14% less capital invested

Capital invested by funds: $584M [Q2] → $501M (-$83.4M) [Q3]

19% less call options, than puts

Call options by funds: $81.2M | Put options by funds: $101M

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $75 12% upside
• Avg. target: $85 27% upside
• High target: $102 53% upside

6 analyst ratings

• positive: 0 0%
• neutral: 6 100%
• negative: 0 0%

Citigroup Scott Gruber 32% 1-year accuracy 9 / 28 met price target	20% upside $80	Neutral Maintained	31 Oct 2024
Susquehanna Charles Minervino 47% 1-year accuracy 29 / 62 met price target	15% upside $77	Neutral Maintained	24 Oct 2024
Evercore ISI Group Jason Bandel 0% 1-year accuracy 0 / 2 met price target	27% upside $85	In-Line Maintained	24 Oct 2024
Barclays David Anderson 45% 1-year accuracy 14 / 31 met price target	32% upside $88	Equal-Weight Maintained	16 Oct 2024
RBC Capital Keith Mackey 38% 1-year accuracy 6 / 16 met price target	53% upside $102	Sector Perform Reiterated	16 Oct 2024