Nabors Industries (NYSE:NBR) Trading Up 3.9%


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Nabors Industries Ltd. (NYSE:NBR)’s stock price was up 3.9% on Tuesday . The stock traded as high as $94.58 and last traded at $94.16. Approximately 3,344 shares changed hands during trading, a decline of 99% from the average daily volume of 242,130 shares. The stock had previously closed at $90.60.

Separately, Morgan Stanley lifted their price objective on Nabors Industries from $60.00 to $80.00 and gave the stock an “underweight” rating in a report on Wednesday, March 31st. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Nabors Industries currently has a consensus rating of “Sell” and a consensus price target of $35.64.

The company has a 50 day moving average of $106.31 and a 200 day moving average of $64.69. The company has a current ratio of 2.39, a quick ratio of 2.06 and a debt-to-equity ratio of 2.42. The firm has a market cap of $702.95 million, a price-to-earnings ratio of -0.68 and a beta of 3.77.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, February 23rd. The oil and gas company reported ($23.82) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($23.56) by ($0.26). Nabors Industries had a negative net margin of 39.93% and a negative return on equity of 27.82%. The company had revenue of $446.74 million during the quarter, compared to analyst estimates of $421.15 million. As a group, sell-side analysts anticipate that Nabors Industries Ltd. will post -79.09 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of NBR. KBC Group NV bought a new position in Nabors Industries in the 4th quarter valued at $66,000. State of Tennessee Treasury Department raised its position in Nabors Industries by 132.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 5,095 shares of the oil and gas company’s stock valued at $125,000 after purchasing an additional 2,904 shares during the last quarter. Schroder Investment Management Group bought a new position in Nabors Industries in the 4th quarter valued at $152,000. Public Employees Retirement System of Ohio bought a new position in Nabors Industries in the 4th quarter valued at $193,000. Finally, Sippican Capital Advisors bought a new position in Nabors Industries in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 63.54% of the company’s stock.

Nabors Industries Company Profile (NYSE:NBR)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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