Nabors Industries Ltd. (NBR) PT Set at $11.00 by Cowen and Company
Nabors Industries Ltd. (NYSE:NBR) has been assigned a $11.00 price target by equities researchers at Cowen and Company in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the oil and gas company’s stock. Cowen and Company’s price target suggests a potential upside of 60.35% from the company’s previous close.
NBR has been the subject of several other reports. Evercore ISI reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Nabors Industries in a report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Nabors Industries in a report on Wednesday, September 6th. Jefferies Group LLC reiterated a “neutral” rating on shares of Nabors Industries in a research note on Thursday, September 7th. Zacks Investment Research upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Finally, UBS AG reiterated a “buy” rating and issued a $11.00 target price (down from $17.00) on shares of Nabors Industries in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $12.07.
Nabors Industries (NBR) traded down 2.97% during midday trading on Wednesday, hitting $6.86. 11,026,447 shares of the stock were exchanged. The firm’s 50-day moving average price is $7.44 and its 200 day moving average price is $8.59. The firm’s market capitalization is $1.96 billion. Nabors Industries has a 1-year low of $6.18 and a 1-year high of $18.40.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). The business had revenue of $630.50 million during the quarter, compared to the consensus estimate of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the business posted ($0.35) earnings per share. Analysts expect that Nabors Industries will post ($1.49) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Invictus RG purchased a new position in Nabors Industries in the 1st quarter worth $109,000. Aviance Capital Management LLC purchased a new position in Nabors Industries in the 1st quarter worth $143,000. Point72 Asia Hong Kong Ltd raised its position in Nabors Industries by 92.2% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock worth $147,000 after purchasing an additional 5,401 shares during the period. Harbour Capital Advisors LLC raised its position in Nabors Industries by 714.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 11,396 shares of the oil and gas company’s stock worth $1,400,000 after purchasing an additional 9,996 shares during the period. Finally, Wright Investors Service Inc. raised its position in Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 265 shares during the period. Institutional investors own 95.55% of the company’s stock.
About Nabors Industries
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.
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