Brokerages Set Nabors Industries Ltd. (NYSE:NBR) PT at $100.57

Nabors Industries Ltd. (NYSE:NBR) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $102.00.

Several equities research analysts have issued reports on the company. Morgan Stanley restated 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. Piper Sandler reiterated an “overweight” rating and set a $130.00 price objective (up from $120.00) on shares of Nabors Industries in a research note on Thursday. Weiss Ratings cut Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Royal Bank Of Canada raised their target price on Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Finally, Susquehanna reduced their target price on Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th.

Hedge Funds Weigh In On Nabors Industries

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Nabors Industries by 97.1% in the 1st quarter. AQR Capital Management LLC now owns 16,770 shares of the oil and gas company’s stock worth $699,000 after purchasing an additional 8,260 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Nabors Industries by 11.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 570 shares during the period. Cetera Investment Advisers boosted its holdings in Nabors Industries by 19.1% in the 2nd quarter. Cetera Investment Advisers now owns 8,570 shares of the oil and gas company’s stock valued at $240,000 after purchasing an additional 1,374 shares during the period. Rhumbline Advisers grew its position in shares of Nabors Industries by 37.0% during the 2nd quarter. Rhumbline Advisers now owns 28,864 shares of the oil and gas company’s stock valued at $809,000 after purchasing an additional 7,799 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Nabors Industries by 3.3% during the 2nd quarter. Invesco Ltd. now owns 55,830 shares of the oil and gas company’s stock valued at $1,564,000 after purchasing an additional 1,764 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

Shares of NBR stock opened at $85.28 on Wednesday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 6.35 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.82 and a debt-to-equity ratio of 2.24. The firm’s 50 day moving average is $87.61 and its 200 day moving average is $83.16. Nabors Industries has a 12 month low of $30.90 and a 12 month high of $112.90.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. The business had revenue of $814.79 million during the quarter. On average, sell-side analysts anticipate that Nabors Industries will post -2.96 earnings per share for the current year.

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.