Nabors Industries (NYSE:NBR) Shares Gap Up – Should You Buy?

Nabors Industries Ltd. (NYSE:NBR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $75.64, but opened at $81.48. Nabors Industries shares last traded at $78.25, with a volume of 23,927 shares trading hands.

Analyst Ratings Changes

A number of research firms recently weighed in on NBR. Zacks Research raised Nabors Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Weiss Ratings cut Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Barclays upgraded Nabors Industries from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $65.00 to $99.00 in a research report on Thursday, May 7th. Susquehanna lowered their price objective on Nabors Industries from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada upped their target price on Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Nabors Industries Trading Up 3.3%

The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.82. The business’s 50 day simple moving average is $88.00 and its 200 day simple moving average is $83.15. The stock has a market cap of $1.21 billion, a P/E ratio of 6.09 and a beta of 0.96.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. The company had revenue of $814.79 million during the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. On average, analysts expect that Nabors Industries Ltd. will post -2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NBR. Islay Capital Management LLC acquired a new stake in shares of Nabors Industries in the 4th quarter valued at $26,000. Quarry LP acquired a new stake in shares of Nabors Industries during the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its holdings in Nabors Industries by 29.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Nabors Industries during the 4th quarter valued at about $40,000. Finally, State of Wyoming boosted its position in Nabors Industries by 106.3% in the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 677 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.