Nabors Industries Ltd. (NYSE:NBR) Receives $49.57 Average Target Price from Brokerages

Nabors Industries Ltd. (NYSE:NBR) has been given an average rating of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.00.

NBR has been the subject of a number of analyst reports. Susquehanna reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Nabors Industries in a research note on Thursday, October 30th. Citigroup restated a “neutral” rating and set a $58.00 price target (up previously from $38.00) on shares of Nabors Industries in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 15th. Morgan Stanley set a $65.00 price objective on shares of Nabors Industries in a research report on Monday, December 15th. Finally, Wall Street Zen upgraded Nabors Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 14th.

Hedge Funds Weigh In On Nabors Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Coldstream Capital Management Inc. acquired a new position in shares of Nabors Industries in the 3rd quarter valued at about $479,000. Voleon Capital Management LP purchased a new position in Nabors Industries during the third quarter valued at approximately $270,000. Verition Fund Management LLC acquired a new position in Nabors Industries in the 3rd quarter valued at approximately $421,000. Susquehanna Advisors Group Inc. increased its stake in Nabors Industries by 3.4% in the 3rd quarter. Susquehanna Advisors Group Inc. now owns 102,136 shares of the oil and gas company’s stock valued at $4,174,000 after buying an additional 3,383 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Nabors Industries by 23.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock worth $63,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Price Performance

NYSE NBR opened at $51.23 on Tuesday. Nabors Industries has a 1 year low of $23.27 and a 1 year high of $69.20. The business’s fifty day moving average is $49.18 and its two-hundred day moving average is $40.14. The stock has a market capitalization of $745.91 million, a P/E ratio of 5.31 and a beta of 0.97. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.93 and a current ratio of 2.09.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). Nabors Industries had a negative return on equity of 30.85% and a net margin of 7.08%.The company had revenue of $825.51 million for the quarter, compared to analyst estimates of $824.61 million. During the same period last year, the firm earned ($6.86) earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, research analysts forecast that Nabors Industries will post -6.22 earnings per share for the current fiscal 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.