Nabors Industries (NYSE:NBR) Releases Earnings Results, Misses Expectations By $0.74 EPS

Nabors Industries (NYSE:NBR) released its earnings results on Tuesday. The oil and gas company reported ($2.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.74), Zacks reports. The business had revenue of $814.79 million during the quarter, compared to analysts’ expectations of $809.28 million. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.

Nabors Industries Stock Down 4.1%

Shares of NYSE:NBR traded down $3.19 during trading on Tuesday, reaching $75.46. 343,110 shares of the stock traded hands, compared to its average volume of 343,609. The stock has a market cap of $1.12 billion, a P/E ratio of 5.91 and a beta of 0.96. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.82 and a current ratio of 1.97. The stock has a 50-day moving average of $89.66 and a two-hundred day moving average of $82.81. Nabors Industries has a 52-week low of $30.90 and a 52-week high of $112.90.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NBR. Morgan Stanley reissued an “overweight” rating and set a $100.00 price target (up from $80.00) on shares of Nabors Industries in a research report on Wednesday, April 15th. Citigroup upped their price objective 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. Royal Bank Of Canada raised their target price on shares of Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Finally, Zacks Research raised Nabors Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Hedge Funds Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Nabors Industries during the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Nabors Industries in the fourth quarter worth $40,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Nabors Industries by 23.0% during the third 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 in the last quarter. State of Wyoming lifted its holdings in shares of Nabors Industries by 106.3% during the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 677 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Nabors Industries by 24.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 341 shares during the last quarter. 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.