Nabors Industries (NYSE:NBR) Trading 6.5% Higher – What’s Next?

Nabors Industries Ltd. (NYSE:NBR)’s stock price traded up 6.5% on Monday . The stock traded as high as $31.68 and last traded at $32.09. 30,915 shares traded hands during trading, a decline of 92% from the average session volume of 375,228 shares. The stock had previously closed at $30.12.

Analysts Set New Price Targets

Several research firms have issued reports on NBR. Morgan Stanley dropped their price target on Nabors Industries from $75.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Susquehanna decreased their target price on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Nabors Industries from $38.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 28th. Citigroup decreased their price objective on Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Finally, Barclays reissued an “underweight” rating and set a $28.00 price target (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.86.

Nabors Industries Stock Performance

The stock has a market capitalization of $504.91 million, a price-to-earnings ratio of -1.45 and a beta of 1.52. The company’s fifty day simple moving average is $28.87 and its 200 day simple moving average is $45.92. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) EPS for the quarter, missing analysts’ consensus estimates of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The company had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. During the same quarter last year, the company posted ($4.54) EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Institutional Trading of Nabors Industries

Several institutional investors have recently modified their holdings of NBR. Public Employees Retirement System of Ohio bought a new stake in shares of Nabors Industries in the 4th quarter valued at about $36,000. US Bancorp DE boosted its holdings in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 505 shares during the last quarter. GAMMA Investing LLC raised its holdings in Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 900 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Nabors Industries by 3,866.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 1,276 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries during the fourth quarter worth $97,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.