Nabors Industries (NYSE:NBR) Stock Rating Lowered by Wall Street Zen

Nabors Industries (NYSE:NBR) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently weighed in on NBR. Weiss Ratings cut shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Royal Bank Of Canada boosted 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. Piper Sandler reaffirmed an “overweight” rating and issued a $130.00 target price (up from $120.00) on shares of Nabors Industries in a report on Thursday. Morgan Stanley reaffirmed 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. Finally, Susquehanna dropped their price target on Nabors Industries from $105.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Nabors Industries Trading Down 0.5%

NYSE NBR opened at $85.28 on Friday. 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 business has a fifty day simple moving average of $87.61 and a 200 day simple moving average of $83.32. Nabors Industries has a 12 month low of $30.90 and a 12 month high of $112.90. The firm has a market capitalization of $1.26 billion, a P/E ratio of 6.35 and a beta of 0.98.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Islay Capital Management LLC bought a new position in shares of Nabors Industries during the 4th quarter valued at approximately $26,000. Quarry LP purchased a new position in Nabors Industries in the fourth quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd purchased a new position in Nabors Industries in the fourth quarter valued at approximately $40,000. EverSource Wealth Advisors LLC grew its holdings in Nabors Industries by 29.3% during the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in 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 during the period. 81.92% of the stock is currently owned by hedge funds and other 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.