Nabors Industries Rebounds as Hedge Funds Eye a Quiet Comeback

Nabors Industries Ltd. (NYSE:NBR) is one of the best oil drilling stocks according to hedge funds right now. On July 1, Susquehanna upgraded its price target from $29 to $32 while maintaining a Neutral rating. The call highlights a solid Q1 performance and suggests the worst of the 2025 offshore slowdown may be behind us. A modest target bump, but when big funds track upgrades like this, it signals cautious optimism in a pressured drilling environment.

That upgrade came shortly after Nabors’ Q1 earnings, where they reported revenue slightly above expectations and completed the acquisition of Parker Wellbore, adding complementary drilling services to their offering. The stock surged over 10% in the week following, recovering from a dip earlier in the year . For hedge funds hunting value in upstream players, Nabors represents a deep-value reopening of narrative: offshore exposure with improving earnings and an expanded services footprint.

Nabors Industries is a Houston-based drilling contractor with a fleet of around 300 land rigs. They offer drilling services, wellbore tools, managed-pressure and directional drilling, plus the RigCLOUD edge computing platform. Simple, drilling-heavy, and ready for a cycle rerate.

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Disclosure: None.