Nabors Industries (NYSE:NBR) Issues Earnings Results, Beats Estimates By $3.28 EPS

Nabors Industries (NYSE:NBR) issued its quarterly earnings results on Wednesday. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.11) by $3.28, Zacks reports. Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%.

Nabors Industries Stock Up 3.5%

NYSE:NBR traded up $2.39 on Wednesday, hitting $70.73. The stock had a trading volume of 405,404 shares, compared to its average volume of 358,424. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $72.06. The business’s fifty day moving average is $59.83 and its 200 day moving average is $47.99. The company has a quick ratio of 1.93, a current ratio of 2.09 and a debt-to-equity ratio of 2.50. The company has a market cap of $1.03 billion, a PE ratio of 7.33 and a beta of 0.99.

Analyst Ratings Changes

A number of research firms recently commented on NBR. Wall Street Zen upgraded Nabors Industries from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of Nabors Industries in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a report on Monday, December 29th. Citigroup raised their target price on shares of Nabors Industries from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Finally, Barclays set a $50.00 target price on Nabors Industries and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.14.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. grew its holdings in shares of Nabors Industries by 25.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company’s stock valued at $21,015,000 after buying an additional 150,000 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Nabors Industries by 232.2% in the 3rd quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company’s stock worth $7,595,000 after acquiring an additional 129,904 shares during the last quarter. Millennium Management LLC lifted its position in Nabors Industries by 846.5% in the 3rd quarter. Millennium Management LLC now owns 112,106 shares of the oil and gas company’s stock valued at $4,582,000 after acquiring an additional 100,262 shares in the last quarter. BROOKFIELD Corp ON acquired a new position in Nabors Industries during the 2nd quarter valued at about $2,170,000. Finally, Empowered Funds LLC acquired a new position in Nabors Industries during the 4th quarter valued at about $2,518,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.