Nabors Industries (NYSE:NBR) Hits New 12-Month High – What’s Next?

Nabors Industries Ltd. (NYSE:NBR)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $72.16 and last traded at $71.41, with a volume of 146991 shares changing hands. The stock had previously closed at $68.10.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays set a $50.00 target price on Nabors Industries and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Citigroup boosted their price target on Nabors Industries from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. UBS Group set a $70.00 price objective on shares of Nabors Industries in a research report on Friday. Susquehanna reissued a “neutral” rating and issued a $70.00 target price (up from $64.00) on shares of Nabors Industries in a research report on Friday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $77.00 price target (up previously from $70.00) on shares of Nabors Industries in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.00.

Nabors Industries Price Performance

The business has a fifty day moving average of $60.74 and a two-hundred day moving average of $48.93. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.93 and a current ratio of 1.56. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 4.36 and a beta of 0.99.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, beating the consensus estimate of ($2.93) by $3.10. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The firm had revenue of $805.13 million for the quarter, compared to the consensus estimate of $795.82 million. During the same period in the previous year, the company earned ($6.67) earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Institutional Trading of Nabors Industries

A number of institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. raised its position in shares of Nabors Industries by 62.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company’s stock valued at $68,418,000 after buying an additional 485,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Nabors Industries by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company’s stock worth $47,298,000 after acquiring an additional 13,424 shares during the period. Apollo Management Holdings L.P. raised its holdings in Nabors Industries by 54.2% in the 2nd quarter. Apollo Management Holdings L.P. now owns 650,623 shares of the oil and gas company’s stock valued at $18,230,000 after acquiring an additional 228,787 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Nabors Industries by 2.0% during the 4th quarter. Cibc World Market Inc. now owns 499,147 shares of the oil and gas company’s stock valued at $27,104,000 after acquiring an additional 9,640 shares during the period. Finally, Highbridge Capital Management LLC lifted its position in shares of Nabors Industries by 26.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock valued at $20,100,000 after acquiring an additional 104,219 shares during the period. 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.