Pamplona Capital Management, holder of 9.3 percent of Nabors Industries Ltd, has become "increasingly concerned" over the underperformance of the drilling rig contractor's shares, according to a regulatory filing on Wednesday.Nabors shares jumped as much as $1 per share, and were 3.4 percent higher at $16.37 in late trading on the New York Stock Exchange. The stock is still down by 16 percent in the past year, whereas rival Helmerich & Payne has gained 1 percent in the same time.Pamplona, a fund backed by Russian billionaire Mikhail Fridman's Alfa Group, also said that it had "valuable insights" to contribute to the development of Nabors' business.Pamplona was reporting its 8.8 percent stake, in addition to another 0.5 percent of Nabors owned by Pamplona founder Alex Knaster, because of a $120 million margin loan facility arranged in October that is tied to its Nabors holding.
Hewlett-Packard Company (HP) is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in the Government, health and education sectors. Shares of HP traded higher by 0.16% or $0.1/share to $61.28. In the past year, the shares have traded as low as $38.71 and as high as $64.36. On average, 1300090 shares of HP exchange hands on a given day and today's volume is recorded at 1025190.
Nabors Industries Ltd. (Nabors) is a land drilling contractor. Shares of NBR traded higher by 2.97% or $0.47/share to $16.30. In the past year, the shares have traded as low as $12.40 and as high as $22.73. On average, 4332200 shares of NBR exchange hands on a given day and today's volume is recorded at 16639578.
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