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

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

NBR has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $100.00 price target (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Piper Sandler raised their price objective on Nabors Industries from $84.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada raised their price objective on Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Susquehanna restated a “neutral” rating and set a $105.00 price objective (up from $85.00) on shares of Nabors Industries in a research report on Thursday, April 30th. Finally, Citigroup raised their price objective on Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st.

Nabors Industries Stock Performance

Shares of Nabors Industries stock opened at $94.96 on Tuesday. Nabors Industries has a fifty-two week low of $27.18 and a fifty-two week high of $112.90. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. The firm has a market capitalization of $1.41 billion, a P/E ratio of 7.44 and a beta of 0.96. The company’s 50 day moving average price is $94.61 and its two-hundred day moving average price is $76.62.

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

Institutional Trading of Nabors Industries

A number of institutional investors have recently bought and sold shares of NBR. Adage Capital Partners GP L.L.C. boosted its position in Nabors Industries by 62.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company’s stock valued at $68,418,000 after acquiring an additional 485,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Nabors Industries by 42.1% during the first quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company’s stock valued at $38,545,000 after acquiring an additional 132,747 shares during the last quarter. Two Sigma Investments LP boosted its position in Nabors Industries by 232.2% during the third quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company’s stock valued at $7,595,000 after acquiring an additional 129,904 shares during the last quarter. Marshall Wace LLP boosted its position in Nabors Industries by 446.9% during the fourth quarter. Marshall Wace LLP now owns 132,715 shares of the oil and gas company’s stock valued at $7,206,000 after acquiring an additional 108,447 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its position in Nabors Industries by 26.9% during the third quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock valued at $20,100,000 after acquiring an additional 104,219 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

About Nabors Industries

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.