Nabors Industries (NYSE:NBR) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Nabors Industries (NYSE:NBR) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other analysts have also recently weighed in on NBR. Susquehanna reiterated a “neutral” rating and issued a $70.00 price target (up from $64.00) on shares of Nabors Industries in a research report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $80.00 target price on shares of Nabors Industries in a research note on Wednesday, January 21st. Piper Sandler reiterated an “overweight” rating and set a $80.00 target price (up previously from $65.00) on shares of Nabors Industries in a research report on Tuesday. Barclays set a $50.00 price target on shares of Nabors Industries and gave the company a “neutral” rating in a report on Wednesday, December 17th. Finally, UBS Group set a $70.00 price objective on shares of Nabors Industries in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and an average target price of $64.00.

Nabors Industries Stock Performance

NYSE NBR opened at $78.05 on Friday. Nabors Industries has a twelve month low of $23.27 and a twelve month high of $78.26. The company has a quick ratio of 1.93, a current ratio of 1.56 and a debt-to-equity ratio of 2.22. The stock has a market cap of $1.14 billion, a P/E ratio of 4.73 and a beta of 0.99. The company’s 50-day simple moving average is $62.27 and its 200 day simple moving average is $50.01.

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. Nabors Industries had a negative return on equity of 17.63% and a net margin of 8.92%.The company 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 business 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 forecast that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

A number of large investors have recently modified their holdings of the stock. Islay Capital Management LLC acquired a new stake in shares of Nabors Industries in the fourth quarter valued at approximately $26,000. Quarry LP bought a new position in Nabors Industries in the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nabors Industries in the 4th quarter valued at $40,000. CWM LLC raised its position in shares of Nabors Industries by 244.6% during the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 631 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Nabors Industries by 106.3% during the fourth 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 period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.