Nabors Industries (NYSE:NBR) has been assigned a $9.00 target price by investment analysts at Cowen in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Cowen’s price objective would suggest a potential upside of 12.22% from the company’s current price.
A number of other equities analysts have also recently issued reports on NBR. UBS Group dropped their price objective on Nabors Industries from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 27th. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Stephens began coverage on Nabors Industries in a report on Tuesday. They set an “equal weight” rating and a $8.00 price objective for the company. Citigroup set a $10.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $9.50 price objective on shares of Nabors Industries in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $10.75.
Nabors Industries (NYSE NBR) opened at $8.02 on Thursday. Nabors Industries has a 1-year low of $5.32 and a 1-year high of $18.38. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $2,290.00, a price-to-earnings ratio of -2.99 and a beta of 1.59.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The business had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. During the same quarter in the previous year, the firm earned ($0.55) EPS. Nabors Industries’s revenue was up 27.4% compared to the same quarter last year. equities analysts expect that Nabors Industries will post -1.63 earnings per share for the current year.
Several hedge funds have recently modified their holdings of NBR. GSA Capital Partners LLP raised its position in shares of Nabors Industries by 236.9% in the 3rd quarter. GSA Capital Partners LLP now owns 46,213 shares of the oil and gas company’s stock worth $373,000 after acquiring an additional 32,494 shares in the last quarter. Elm Ridge Management LLC raised its position in shares of Nabors Industries by 2.7% in the 3rd quarter. Elm Ridge Management LLC now owns 717,816 shares of the oil and gas company’s stock worth $5,793,000 after acquiring an additional 19,101 shares in the last quarter. Algert Global LLC bought a new position in shares of Nabors Industries in the 3rd quarter worth $323,000. Cetera Advisors LLC bought a new position in shares of Nabors Industries in the 3rd quarter worth $115,000. Finally, California Public Employees Retirement System raised its position in shares of Nabors Industries by 9.9% in the 3rd quarter. California Public Employees Retirement System now owns 1,198,300 shares of the oil and gas company’s stock worth $9,670,000 after acquiring an additional 108,285 shares in the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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