Nabors Industries (NYSE:NBR) Stock Price Up 8.5% – Time to Buy?

Nabors Industries Ltd. (NYSE:NBR)’s stock price traded up 8.5% during mid-day trading on Friday . The company traded as high as $69.58 and last traded at $69.3140. 108,133 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 367,509 shares. The stock had previously closed at $63.88.

Analyst Ratings Changes

A number of research firms have issued reports on NBR. Piper Sandler raised Nabors Industries from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $65.00 in a research report on Thursday, December 18th. Barclays set a $50.00 price objective on shares of Nabors Industries and gave the company a “neutral” rating in a report on Wednesday, December 17th. Susquehanna reiterated a “neutral” rating and issued a $70.00 target price (up previously from $64.00) on shares of Nabors Industries in a research note on Friday. UBS Group set a $70.00 price target on shares of Nabors Industries in a research report on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Nabors Industries in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nabors Industries currently has an average rating of “Hold” and a consensus target price of $62.13.

Nabors Industries Stock Performance

The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.93 and a current ratio of 2.09. The company has a market cap of $1.00 billion, a PE ratio of 4.17 and a beta of 0.99. The business’s 50-day moving average is $60.29 and its 200 day moving average is $48.26.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($2.93) by $3.10. The firm had revenue of $805.13 million during the quarter, compared to analyst estimates of $795.82 million. Nabors Industries had a negative return on equity of 18.89% and a net margin of 8.92%.The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($6.67) earnings per share. On average, equities research analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Nabors Industries by 15.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 485,346 shares of the oil and gas company’s stock worth $26,354,000 after buying an additional 66,640 shares in the last quarter. State Street Corp lifted its position in Nabors Industries by 6.1% in the 4th quarter. State Street Corp now owns 407,013 shares of the oil and gas company’s stock valued at $22,101,000 after acquiring an additional 23,326 shares in the last quarter. Van ECK Associates Corp boosted its stake in Nabors Industries by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 278,743 shares of the oil and gas company’s stock valued at $15,135,000 after purchasing an additional 19,701 shares during the last quarter. De Lisle Partners LLP purchased a new stake in Nabors Industries during the 4th quarter valued at $1,542,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Nabors Industries by 24.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 341 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

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.