Nabors Industries (NYSE:NBR) Stock Rating Upgraded by Zacks Research

Nabors Industries (NYSE:NBR) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada increased their price target on Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Piper Sandler increased 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. Weiss Ratings lowered shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Citigroup boosted their price target on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $65.00 to $99.00 in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Nabors Industries Stock Performance

Nabors Industries stock opened at $82.78 on Wednesday. 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 has a 1 year low of $29.50 and a 1 year high of $112.90. The business has a 50 day moving average of $92.40 and a 200-day moving average of $81.46. The company has a market capitalization of $1.23 billion, a P/E ratio of 6.48 and a beta of 0.96.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share 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 analysts’ expectations of $769.33 million. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. Nabors Industries’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 earnings per share. On average, equities research analysts predict that Nabors Industries will post -3.12 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

A number of large investors have recently bought and sold shares of the stock. Islay Capital Management LLC acquired a new position in shares of Nabors Industries during the fourth quarter valued at about $26,000. Quarry LP acquired a new position in Nabors Industries during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in Nabors Industries by 29.3% in the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 141 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Nabors Industries in the fourth quarter worth approximately $40,000. Finally, State of Wyoming raised its position in shares of Nabors Industries by 106.3% during the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 677 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.