Nabors Industries (NYSE:NBR) Releases Earnings Results, Misses Expectations By $2.92 EPS

Nabors Industries (NYSE:NBR) issued its quarterly earnings results on Wednesday. The oil and gas company reported ($5.16) EPS for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92), reports. Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The firm had revenue of $743.91 million for the quarter, compared to the consensus estimate of $730.59 million.

Nabors Industries Price Performance

Shares of NYSE:NBR traded up $0.96 during mid-day trading on Friday, hitting $77.20. 168,015 shares of the company traded hands, compared to its average volume of 242,812. The stock has a 50-day moving average price of $83.14 and a two-hundred day moving average price of $87.28. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47. The company has a quick ratio of 1.23, a current ratio of 1.78 and a debt-to-equity ratio of 4.81.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after purchasing an additional 332 shares during the last quarter. Quadrature Capital Ltd grew its position in Nabors Industries by 75.1% in the 4th quarter. Quadrature Capital Ltd now owns 13,564 shares of the oil and gas company’s stock worth $1,108,000 after purchasing an additional 5,818 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Nabors Industries by 111.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after buying an additional 209,450 shares during the last quarter. Readystate Asset Management LP lifted its position in shares of Nabors Industries by 44.5% during the 4th quarter. Readystate Asset Management LP now owns 26,499 shares of the oil and gas company’s stock worth $2,163,000 after buying an additional 8,164 shares in the last quarter. Finally, Gendell Jeffrey L boosted its stake in shares of Nabors Industries by 3.2% in the 4th quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock worth $32,350,000 after buying an additional 12,119 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on NBR shares. Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a research report on Thursday. Morgan Stanley decreased their price objective on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Finally, Susquehanna cut their target price on Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $127.80.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.