Societe Generale Initiates Coverage on Nabors Industries Ltd. (NBR)
Research analysts at Societe Generale began coverage on shares of Nabors Industries Ltd. (NYSE:NBR) in a research report issued on Thursday. The firm set a “hold” rating on the oil and gas company’s stock.
Several other equities analysts have also recently issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $13.00 price objective (down from $20.00) on shares of Nabors Industries in a report on Tuesday, May 30th. Citigroup Inc. reaffirmed a “buy” rating on shares of Nabors Industries in a report on Wednesday, May 10th. Wells Fargo & Company cut Nabors Industries from an “outperform” rating to a “market perform” rating in a report on Friday, July 7th. Guggenheim raised Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, August 15th. Finally, Zacks Investment Research cut Nabors Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.00.
Shares of Nabors Industries (NYSE NBR) opened at 6.47 on Thursday. The company has a 50-day moving average of $7.26 and a 200 day moving average of $10.42. Nabors Industries has a 12-month low of $6.18 and a 12-month high of $18.40. The stock’s market capitalization is $1.85 billion.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by $0.03. The business had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. Analysts predict that Nabors Industries will post ($1.49) earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Invictus RG acquired a new stake in shares of Nabors Industries during the first quarter worth approximately $109,000. Aviance Capital Management LLC acquired a new stake in shares of Nabors Industries during the first quarter worth approximately $143,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Nabors Industries by 92.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock worth $147,000 after buying an additional 5,401 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in shares of Nabors Industries by 714.0% in the second quarter. Harbour Capital Advisors LLC now owns 11,396 shares of the oil and gas company’s stock worth $1,400,000 after buying an additional 9,996 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Nabors Industries by 2.7% in the first quarter. Venturi Wealth Management LLC now owns 12,260 shares of the oil and gas company’s stock worth $154,000 after buying an additional 320 shares in the last quarter. 95.60% of the stock is owned by institutional investors and hedge funds.
Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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