Nabors Industries (NYSE:NBR) Price Target Raised to $110.00 at Citigroup

Nabors Industries (NYSE:NBR) had its target price boosted by equities research analysts at Citigroup from $89.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price target indicates a potential upside of 8.93% from the company’s current price.

Other analysts also recently issued reports about the company. UBS Group set a $70.00 target price on Nabors Industries in a research note on Friday, February 13th. Royal Bank Of Canada raised their target price on Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday. Morgan Stanley restated an “overweight” rating and issued a $100.00 target price (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Susquehanna restated a “neutral” rating and issued a $105.00 target price (up from $85.00) on shares of Nabors Industries in a research note on Thursday. Finally, Barclays raised their target price on Nabors Industries from $50.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Nabors Industries currently has an average rating of “Hold” and an average target price of $89.38.

Nabors Industries Trading Down 1.6%

Nabors Industries stock traded down $1.63 during trading hours on Friday, reaching $100.98. 217,035 shares of the company’s stock were exchanged, compared to its average volume of 384,723. The company has a quick ratio of 1.47, a current ratio of 1.97 and a debt-to-equity ratio of 2.22. The firm’s 50 day simple moving average is $82.61 and its 200 day simple moving average is $65.05. The firm has a market capitalization of $1.61 billion, a PE ratio of 7.91 and a beta of 0.87. Nabors Industries has a twelve month low of $23.27 and a twelve month high of $105.17.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($2.49) by $0.95. The company had revenue of $783.55 million during the quarter, compared to the consensus estimate of $769.33 million. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $2.18 EPS. Research analysts predict that Nabors Industries will post -5.91 earnings per share for the current year.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently added to or reduced their stakes in NBR. Islay Capital Management LLC bought a new position in Nabors Industries in the 4th quarter valued at about $26,000. Quarry LP bought a new position in Nabors Industries in the 4th quarter valued at about $33,000. CWM LLC lifted its position in Nabors Industries by 244.6% in the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 631 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Nabors Industries in the 4th quarter valued at about $40,000. Finally, Public Employees Retirement System of Ohio lifted its position in Nabors Industries by 23.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land and offshore drilling rigs, drilling equipment and related services to energy companies around the world. The company’s operations span two core segments: drilling and evaluation, which includes land‐based and platform drilling rigs as well as wellbore survey services, and wellbore technologies, offering pressure control equipment, downhole tools and specialized maintenance services. Nabors’ integrated model combines rig operations with engineered products and field support, positioning it as a full‐service provider in the upstream sector.

The company maintains a diverse, modern fleet of automated and conventional drilling rigs and has pioneered advanced drilling technologies, including automated drilling controls and managed pressure drilling systems.