Nabors Industries (NYSE:NBR) Stock Price Up 3.6%

Nabors Industries Ltd. (NYSE:NBR)’s stock price rose 3.6% on Friday . The stock traded as high as $106.00 and last traded at $106.00. Approximately 686 shares were traded during trading, a decline of 99% from the average daily volume of 125,006 shares. The stock had previously closed at $102.32.

A number of analysts have commented on NBR shares. Royal Bank of Canada reaffirmed a “hold” rating on shares of Nabors Industries in a research note on Tuesday, November 23rd. Barclays increased their price target on Nabors Industries from $87.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, October 25th. Finally, Atb Cap Markets upgraded shares of Nabors Industries from an “underperform” rating to an “outperform” rating in a research note on Wednesday, September 29th.

The company has a current ratio of 2.56, a quick ratio of 2.30 and a debt-to-equity ratio of 3.69. The firm has a market capitalization of $919.58 million, a P/E ratio of -1.41 and a beta of 3.38. The firm has a 50-day moving average of $90.65 and a two-hundred day moving average of $92.83.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 26th. The oil and gas company reported ($15.79) EPS for the quarter, missing the consensus estimate of ($12.90) by ($2.89). The firm had revenue of $524.37 million during the quarter, compared to the consensus estimate of $503.63 million. Nabors Industries had a negative net margin of 29.33% and a negative return on equity of 51.87%. During the same quarter in the prior year, the business posted ($22.81) earnings per share. On average, sell-side analysts anticipate that Nabors Industries Ltd. will post -60.04 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Nabors Industries in the second quarter valued at $25,000. FORA Capital LLC purchased a new position in Nabors Industries during the second quarter worth about $53,000. PSI Advisors LLC purchased a new position in Nabors Industries during the third quarter worth about $56,000. US Asset Management LLC purchased a new position in Nabors Industries during the third quarter worth about $110,000. Finally, Arizona State Retirement System purchased a new position in Nabors Industries during the second quarter worth about $206,000. Institutional investors own 76.12% of the company’s stock.

Nabors Industries Company Profile (NYSE:NBR)

Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It operates through the following segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The U.S. Drilling segment includes land drilling activities in the lower 48 states and Alaska, as well as offshore operations in the Gulf of Mexico.

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