Nabors Industries Ltd. (NYSE:NBR) Receives $102.57 Average Price Target from Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given an average rating of “Hold” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $102.5714.

Several brokerages have issued reports on NBR. Weiss Ratings upgraded Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Citigroup boosted their price objective on Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wall Street Zen lowered Nabors Industries from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $130.00 target price (up from $120.00) on shares of Nabors Industries in a report on Thursday, July 30th. Finally, Zacks Research downgraded shares of Nabors Industries from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th.

Nabors Industries Price Performance

NBR stock opened at $87.79 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 6.53 and a beta of 0.98. The company’s 50-day moving average is $84.54 and its 200-day moving average is $86.14. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.75. Nabors Industries has a 1 year low of $34.40 and a 1 year high of $112.90.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. The firm had revenue of $814.79 million during the quarter. Equities research analysts expect that Nabors Industries will post -3.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NBR. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Nabors Industries during the second quarter valued at about $1,201,000. California State Teachers Retirement System raised its holdings in shares of Nabors Industries by 9,671.6% in the 2nd quarter. California State Teachers Retirement System now owns 1,022,402 shares of the oil and gas company’s stock worth $85,892,000 after acquiring an additional 1,011,939 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Nabors Industries by 3.8% in the 2nd quarter. HB Wealth Management LLC now owns 6,390 shares of the oil and gas company’s stock worth $537,000 after acquiring an additional 233 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Nabors Industries in the 2nd quarter valued at about $2,081,000. Finally, Public Employees Retirement System of Ohio bought a new position in Nabors Industries in the 2nd quarter valued at about $101,000. 81.92% of the stock is owned by institutional investors.

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.