Nabors Industries Ltd. (NYSE:NBR) Receives $103.43 Consensus Target Price from Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $103.4286.

A number of research analysts have commented on the stock. Piper Sandler raised their target price on shares of Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $65.00 to $99.00 in a research report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and set a $100.00 target price (up from $80.00) on shares of Nabors Industries in a research report on Wednesday, April 15th. Susquehanna reissued a “neutral” rating and set a $105.00 target price (up from $85.00) on shares of Nabors Industries in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th.

Institutional Trading of Nabors Industries

Institutional investors have recently modified their holdings of the company. Islay Capital Management LLC bought a new stake in shares of Nabors Industries in the 4th quarter valued at about $26,000. Quarry LP bought a new stake in shares of Nabors Industries in the 4th quarter valued at about $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Nabors Industries by 29.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 141 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Nabors Industries in the 4th quarter valued at about $40,000. Finally, State of Wyoming boosted its holdings in shares of Nabors Industries by 106.3% in the 4th quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 677 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Trading Down 6.6%

NBR stock opened at $94.96 on Tuesday. The company has a market capitalization of $1.41 billion, a PE ratio of 7.44 and a beta of 0.96. Nabors Industries has a 12 month low of $27.18 and a 12 month high of $112.90. The firm’s 50-day moving average is $94.61 and its 200 day moving average is $76.62. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($2.49) by $0.95. The company had revenue of $783.55 million for the quarter, compared to the consensus estimate of $769.33 million. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 EPS. On average, research analysts anticipate that Nabors Industries will post -3.32 EPS for the current year.

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.