Miller Value Partners Reduces Nabors Stake
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 34 minutes ago
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Source: Fool
- Share Reduction Details: Miller Value Partners reported a sale of 158,307 shares of Nabors Industries in its SEC filing dated May 15, 2026, with an estimated transaction value of $11.49 million, indicating a strategic decision to lock in some gains while maintaining a positive outlook on future growth.
- Position Change Analysis: Following the sale, Miller's stake in Nabors dropped to about 10%, reflecting a $5.52 million decrease; however, Nabors remains the fund's largest disclosed holding, suggesting continued confidence in the company's long-term potential despite the reduction.
- Company Financial Performance: In the first quarter, Nabors generated $784 million in revenue and $205 million in adjusted EBITDA, demonstrating ongoing business improvement, with an increase in the average rig count to nearly 168 rigs worldwide, indicating strong market demand.
- Debt Management and Future Outlook: Nabors successfully reduced total debt to $2.1 billion, cutting $386 million since the end of 2024, and management anticipates benefiting from growing international demand, particularly in Saudi Arabia and Latin America, positioning the company for strong free cash flow in the future.
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Analyst Views on NBR
Wall Street analysts forecast NBR stock price to fall
6 Analyst Rating
2 Buy
3 Hold
1 Sell
Hold
Current: 106.550
Low
50.00
Averages
61.67
High
66.00
Current: 106.550
Low
50.00
Averages
61.67
High
66.00
About NBR
Nabors Industries Ltd. is a provider of advanced technology for the energy industry. The Company operates in over 20 countries and provides drilling and drilling-related services for land-based and offshore oil and natural gas wells, with a fleet of rigs and drilling-related equipment. Its segments include U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. Its RigCLOUD platform is an edge computing system designed to support workflow management, performance monitoring, and user-specific configurations. Its fleet includes over 284 actively marketed rigs for land-based drilling operations in the United States and various countries throughout the world and 26 actively marketed rigs for offshore platform drilling operations in the United States and multiple international markets. It provides performance tools, directional drilling services, tubular running services, and technologies for use on its own rig fleet and rigs operated by third parties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Miller Value Partners Reduces Nabors Stake
- Share Reduction Details: Miller Value Partners reported a sale of 158,307 shares of Nabors Industries in its SEC filing dated May 15, 2026, with an estimated transaction value of $11.49 million, indicating a strategic decision to lock in some gains while maintaining a positive outlook on future growth.
- Position Change Analysis: Following the sale, Miller's stake in Nabors dropped to about 10%, reflecting a $5.52 million decrease; however, Nabors remains the fund's largest disclosed holding, suggesting continued confidence in the company's long-term potential despite the reduction.
- Company Financial Performance: In the first quarter, Nabors generated $784 million in revenue and $205 million in adjusted EBITDA, demonstrating ongoing business improvement, with an increase in the average rig count to nearly 168 rigs worldwide, indicating strong market demand.
- Debt Management and Future Outlook: Nabors successfully reduced total debt to $2.1 billion, cutting $386 million since the end of 2024, and management anticipates benefiting from growing international demand, particularly in Saudi Arabia and Latin America, positioning the company for strong free cash flow in the future.
See More
Miller Value Partners Reduces NBR Holdings
- Share Reduction Details: In Q1 2026, Miller Value Partners sold 158,307 shares of Nabors Industries (NBR), with an estimated transaction value of $11.49 million, reflecting both a reduction in holdings and stock price fluctuations.
- Impact on AUM: This transaction represented 3% of Miller Value's 13F AUM, while the quarter-end position value decreased by $5.52 million, indicating the market's influence on the fund's investment portfolio.
- Company Performance Highlights: Despite the reduction, Nabors remains Miller Value's largest holding at approximately 10% of reportable assets, suggesting the fund's confidence in its future growth potential, especially given the stock's over 300% rise in the past year.
- Financial Health Status: Nabors generated $784 million in revenue and $205 million in adjusted EBITDA in Q1, while reducing total debt to $2.1 billion, demonstrating the company's proactive efforts in improving its financial health and operational efficiency.
See More
Analysis of Stocks Near Market Highs
- Golar LNG Performance Concerns: Golar LNG's annual sales have declined by 2.7% over the past five years, indicating unfavorable market trends, and with a share price of $57.36 and a forward P/E of 71.9, investor confidence in its long-term profitability appears shaky.
- Nabors Industries Financial Strain: Despite a one-month return of 19.2%, Nabors Industries has a gross margin of only 39%, which is below its competitors, limiting its investment capacity in exploration and production, while a mere 2.3% free cash flow margin over the last five years indicates significant funding pressures.
- First BanCorp Strong Performance: First BanCorp boasts a robust loan portfolio with a net interest margin of 4.6%, and its efficiency ratio has improved by 11 percentage points over the past five years, showcasing its competitive edge, with a current share price of $23.37 and a forward P/B of 1.8.
- Market Trend Caution: While some stocks exhibit short-term momentum, investors should exercise caution as short-term trends may lead to losses, particularly given the fundamental risks associated with Golar LNG and Nabors Industries.
See More
Nabors (NBR) Q1 2026 Earnings Call Transcript
See More
Nabors Industries Reports Q1 2026 Financial Results
- Revenue and Loss: Nabors reported Q1 2026 operating revenues of $784 million, down from $798 million in Q4 2025, with a net loss of $15 million, indicating challenges in the market and cost pressures.
- Adjusted EBITDA Performance: The first quarter adjusted EBITDA was $205 million, a decline from $221 million in the previous quarter, reflecting rising costs and operational challenges in international markets, which may impact future investment decisions.
- Drilling Activity Growth: The average rig count in the U.S. drilling segment increased by 9% sequentially to 65.3 rigs, demonstrating heightened demand for high-spec rigs and enhancing the company's ability to capture market share.
- Free Cash Flow Improvement: Although the adjusted free cash flow for Q1 was negative $48 million, this represented an improvement from negative $61 million in Q1 2025, indicating gradual enhancements in cash management and operational efficiency.
See More
Nabors Set to Announce Q1 Earnings Results
- Earnings Announcement Date: Nabors (NBR) is scheduled to release its Q1 2023 earnings report on April 28th after market close, with a consensus EPS estimate of -$2.03, reflecting a significant 44.7% year-over-year decline, indicating potential profitability challenges.
- Revenue Expectations: The revenue estimate stands at $773.34 million, representing a 6.3% year-over-year decrease, which highlights the company's struggles in the current market environment and may impact its future investment appeal.
- Historical Performance Review: Over the past year, Nabors has only beaten EPS estimates 25% of the time and revenue estimates 50% of the time, indicating considerable performance volatility that investors should carefully assess regarding the company's financial health.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen three upward revisions and two downward revisions, while revenue estimates have experienced two upward and two downward revisions, reflecting market uncertainty regarding Nabors' future performance.
See More
Miller Value Partners Reduces Nabors Stake
- Share Reduction Details: Miller Value Partners reported a sale of 158,307 shares of Nabors Industries in its SEC filing dated May 15, 2026, with an estimated transaction value of $11.49 million, indicating a strategic decision to lock in some gains while maintaining a positive outlook on future growth.
- Position Change Analysis: Following the sale, Miller's stake in Nabors dropped to about 10%, reflecting a $5.52 million decrease; however, Nabors remains the fund's largest disclosed holding, suggesting continued confidence in the company's long-term potential despite the reduction.
- Company Financial Performance: In the first quarter, Nabors generated $784 million in revenue and $205 million in adjusted EBITDA, demonstrating ongoing business improvement, with an increase in the average rig count to nearly 168 rigs worldwide, indicating strong market demand.
- Debt Management and Future Outlook: Nabors successfully reduced total debt to $2.1 billion, cutting $386 million since the end of 2024, and management anticipates benefiting from growing international demand, particularly in Saudi Arabia and Latin America, positioning the company for strong free cash flow in the future.
See More
Miller Value Partners Reduces NBR Holdings
- Share Reduction Details: In Q1 2026, Miller Value Partners sold 158,307 shares of Nabors Industries (NBR), with an estimated transaction value of $11.49 million, reflecting both a reduction in holdings and stock price fluctuations.
- Impact on AUM: This transaction represented 3% of Miller Value's 13F AUM, while the quarter-end position value decreased by $5.52 million, indicating the market's influence on the fund's investment portfolio.
- Company Performance Highlights: Despite the reduction, Nabors remains Miller Value's largest holding at approximately 10% of reportable assets, suggesting the fund's confidence in its future growth potential, especially given the stock's over 300% rise in the past year.
- Financial Health Status: Nabors generated $784 million in revenue and $205 million in adjusted EBITDA in Q1, while reducing total debt to $2.1 billion, demonstrating the company's proactive efforts in improving its financial health and operational efficiency.
See More
Analysis of Stocks Near Market Highs
- Golar LNG Performance Concerns: Golar LNG's annual sales have declined by 2.7% over the past five years, indicating unfavorable market trends, and with a share price of $57.36 and a forward P/E of 71.9, investor confidence in its long-term profitability appears shaky.
- Nabors Industries Financial Strain: Despite a one-month return of 19.2%, Nabors Industries has a gross margin of only 39%, which is below its competitors, limiting its investment capacity in exploration and production, while a mere 2.3% free cash flow margin over the last five years indicates significant funding pressures.
- First BanCorp Strong Performance: First BanCorp boasts a robust loan portfolio with a net interest margin of 4.6%, and its efficiency ratio has improved by 11 percentage points over the past five years, showcasing its competitive edge, with a current share price of $23.37 and a forward P/B of 1.8.
- Market Trend Caution: While some stocks exhibit short-term momentum, investors should exercise caution as short-term trends may lead to losses, particularly given the fundamental risks associated with Golar LNG and Nabors Industries.
See More
Nabors (NBR) Q1 2026 Earnings Call Transcript
See More
Nabors Industries Reports Q1 2026 Financial Results
- Revenue and Loss: Nabors reported Q1 2026 operating revenues of $784 million, down from $798 million in Q4 2025, with a net loss of $15 million, indicating challenges in the market and cost pressures.
- Adjusted EBITDA Performance: The first quarter adjusted EBITDA was $205 million, a decline from $221 million in the previous quarter, reflecting rising costs and operational challenges in international markets, which may impact future investment decisions.
- Drilling Activity Growth: The average rig count in the U.S. drilling segment increased by 9% sequentially to 65.3 rigs, demonstrating heightened demand for high-spec rigs and enhancing the company's ability to capture market share.
- Free Cash Flow Improvement: Although the adjusted free cash flow for Q1 was negative $48 million, this represented an improvement from negative $61 million in Q1 2025, indicating gradual enhancements in cash management and operational efficiency.
See More
Nabors Set to Announce Q1 Earnings Results
- Earnings Announcement Date: Nabors (NBR) is scheduled to release its Q1 2023 earnings report on April 28th after market close, with a consensus EPS estimate of -$2.03, reflecting a significant 44.7% year-over-year decline, indicating potential profitability challenges.
- Revenue Expectations: The revenue estimate stands at $773.34 million, representing a 6.3% year-over-year decrease, which highlights the company's struggles in the current market environment and may impact its future investment appeal.
- Historical Performance Review: Over the past year, Nabors has only beaten EPS estimates 25% of the time and revenue estimates 50% of the time, indicating considerable performance volatility that investors should carefully assess regarding the company's financial health.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen three upward revisions and two downward revisions, while revenue estimates have experienced two upward and two downward revisions, reflecting market uncertainty regarding Nabors' future performance.
See More
