Nabors Industries Ltd. (NYSE:NBR) Given Average Rating of “Hold” by Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $100.5714.

A number of equities research analysts have recently weighed in on the company. Susquehanna lowered their price target on Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Citigroup increased their target price on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $100.00 price target (up from $80.00) on shares of Nabors Industries in a research report on Wednesday, April 15th.

Hedge Funds Weigh In On Nabors Industries

A number of large investors have recently bought and sold shares of NBR. Islay Capital Management LLC bought a new position in shares of Nabors Industries during the fourth quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Nabors Industries during the 4th quarter worth approximately $33,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Nabors Industries in the 4th quarter worth approximately $40,000. EverSource Wealth Advisors LLC lifted 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 worth $54,000 after purchasing an additional 141 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Nabors Industries by 23.0% during 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 purchasing an additional 289 shares during the period. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Up 2.2%

Shares of NBR stock traded up $1.80 during trading hours on Friday, hitting $82.08. 179,755 shares of the company were exchanged, compared to its average volume of 286,349. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.43 and a beta of 0.96. Nabors Industries has a one year low of $29.50 and a one year high of $112.90. The business’s 50-day simple moving average is $93.82 and its two-hundred day simple moving average is $80.40. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.82 and a current ratio of 1.97.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($2.49) by $0.95. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.The firm had revenue of $783.55 million during the quarter, compared to analyst estimates of $769.33 million. During the same period in the previous year, the company earned $2.18 earnings per share. Nabors Industries’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that Nabors Industries will post -3.12 EPS for the current fiscal 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.