Nabors Industries (NYSE:NBR) Posts Earnings Results, Beats Estimates By $3.10 EPS

Nabors Industries (NYSE:NBR) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($2.93) by $3.10, Zacks reports. Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The company had revenue of $797.53 million during the quarter, compared to analyst estimates of $795.82 million. During the same quarter in the prior year, the business earned ($6.67) earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis.

Nabors Industries Stock Performance

Nabors Industries stock opened at $70.73 on Thursday. Nabors Industries has a 1-year low of $23.27 and a 1-year high of $72.06. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $1.03 billion, a PE ratio of 7.33 and a beta of 0.99. The firm’s 50 day simple moving average is $60.15 and its 200 day simple moving average is $48.15.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $80.00 price objective on shares of Nabors Industries in a research note on Wednesday, January 21st. Susquehanna set a $64.00 target price on Nabors Industries and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded Nabors Industries from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Barclays set a $50.00 price objective on Nabors Industries and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of Nabors Industries in a research note on Thursday, January 15th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.14.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NBR. Public Employees Retirement System of Ohio grew its position 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 worth $63,000 after buying an additional 289 shares in the last quarter. State of Wyoming boosted its position in shares of Nabors Industries by 106.3% during the 4th quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 677 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Nabors Industries by 153.9% during the third quarter. Russell Investments Group Ltd. now owns 3,222 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 1,953 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Nabors Industries by 720.6% in the second quarter. Osaic Holdings Inc. now owns 5,703 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 5,008 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Nabors Industries by 41.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,744 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 2,277 shares in the last quarter. Institutional investors 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.