Nabors Industries Ltd. (NYSE:NBR) Receives Consensus Recommendation of “Hold” from Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $69.00.

Several equities analysts have commented on NBR shares. Barclays boosted their price target on shares of Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 25th. Susquehanna reiterated a “neutral” rating and issued a $70.00 target price (up from $64.00) on shares of Nabors Industries in a report on Friday, February 13th. Royal Bank Of Canada reissued a “sector perform” rating and set a $77.00 target price (up from $70.00) on shares of Nabors Industries in a research note on Friday, February 13th. Wall Street Zen downgraded Nabors Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, UBS Group set a $70.00 price target on Nabors Industries in a research report on Friday, February 13th.

Nabors Industries Stock Down 2.7%

Shares of NBR opened at $87.21 on Thursday. The company’s 50-day simple moving average is $74.65 and its 200-day simple moving average is $58.24. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.56. Nabors Industries has a 1 year low of $23.27 and a 1 year high of $92.38. The stock has a market capitalization of $1.28 billion, a PE ratio of 5.29 and a beta of 0.89.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($2.93) by $3.10. The firm had revenue of $797.53 million for the quarter, compared to the consensus estimate of $795.82 million. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($6.67) EPS. Analysts forecast that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Trading of Nabors Industries

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Nabors Industries by 14.6% in the fourth quarter. Invesco Ltd. now owns 80,712 shares of the oil and gas company’s stock worth $4,383,000 after acquiring an additional 10,308 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Nabors Industries in the 4th quarter valued at approximately $2,518,000. XTX Topco Ltd acquired a new stake in shares of Nabors Industries in the 4th quarter valued at $709,000. Voloridge Investment Management LLC acquired a new stake in shares of Nabors Industries in the 4th quarter valued at $1,733,000. Finally, Tudor Investment Corp ET AL lifted its position in shares of Nabors Industries by 1,770.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 43,433 shares of the oil and gas company’s stock worth $2,358,000 after purchasing an additional 46,033 shares during the last quarter. Institutional investors and hedge funds 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.