Nabors Industries’ (NYSE:NBR) “Neutral” Rating Reiterated at Seaport Global Securities
Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “neutral” rating reaffirmed by equities researchers at Seaport Global Securities in a report released on Friday.
Other analysts have also issued research reports about the company. BMO Capital Markets set a $13.00 target price on Nabors Industries and gave the company a “hold” rating in a report on Saturday, May 6th. Credit Suisse Group set a $18.00 target price on Nabors Industries and gave the company a “buy” rating in a report on Sunday, April 30th. Morgan Stanley reduced their target price on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday. Evercore ISI restated an “outperform” rating and issued a $18.00 target price on shares of Nabors Industries in a report on Tuesday, June 20th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $15.00 target price on shares of Nabors Industries in a report on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.73.
Shares of Nabors Industries (NBR) opened at 7.05 on Friday. The stock has a 50 day moving average price of $7.87 and a 200-day moving average price of $11.58. The stock’s market cap is $1.97 billion. Nabors Industries has a 12 month low of $6.93 and a 12 month high of $18.40.
Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.03. The business had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. Nabors Industries’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) EPS. On average, analysts forecast that Nabors Industries will post ($1.41) EPS for the current fiscal year.
In other Nabors Industries news, CFO William J. Restrepo purchased 22,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were bought at an average cost of $8.25 per share, with a total value of $181,500.00. Following the completion of the transaction, the chief financial officer now owns 959,694 shares in the company, valued at approximately $7,917,475.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.
Several large investors have recently modified their holdings of NBR. Sirios Capital Management L P increased its stake in shares of Nabors Industries by 246.1% in the second quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock valued at $32,844,000 after buying an additional 2,869,187 shares in the last quarter. Winch Advisory Services LLC increased its stake in shares of Nabors Industries by 35.1% in the second quarter. Winch Advisory Services LLC now owns 149,845 shares of the oil and gas company’s stock valued at $1,220,000 after buying an additional 38,948 shares in the last quarter. Cadence Capital Management LLC increased its stake in shares of Nabors Industries by 242.6% in the second quarter. Cadence Capital Management LLC now owns 35,638 shares of the oil and gas company’s stock valued at $290,000 after buying an additional 25,236 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Nabors Industries during the second quarter valued at about $7,324,000. Finally, Deprince Race & Zollo Inc. increased its stake in shares of Nabors Industries by 4.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,799,399 shares of the oil and gas company’s stock valued at $22,787,000 after buying an additional 121,327 shares in the last quarter. 98.65% of the stock is currently owned by institutional investors.
Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.