Nabors Industries (NYSE:NBR) Raised to Buy at Wall Street Zen

Nabors Industries (NYSE:NBR) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other research analysts have also commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 8th. Susquehanna restated a “neutral” rating and set a $56.00 price objective on shares of Nabors Industries in a research note on Thursday, October 30th. Royal Bank Of Canada set a $66.00 price objective on shares of Nabors Industries and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Barclays reissued an “underweight” rating and set a $45.00 target price (up from $36.00) on shares of Nabors Industries in a report on Tuesday, November 11th. Finally, Morgan Stanley set a $55.00 price target on shares of Nabors Industries and gave the company an “overweight” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $48.14.

Nabors Industries Price Performance

Shares of NBR stock opened at $54.59 on Friday. The firm has a fifty day moving average of $48.25 and a two-hundred day moving average of $39.28. The firm has a market cap of $794.79 million, a P/E ratio of 5.66 and a beta of 0.97. Nabors Industries has a 1-year low of $23.27 and a 1-year high of $69.20. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.93.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). The company had revenue of $825.51 million during the quarter, compared to analyst estimates of $824.61 million. Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted ($6.86) EPS. As a group, research analysts anticipate that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBR. CWM LLC boosted its stake in Nabors Industries by 244.6% during the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 631 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Nabors Industries by 3,866.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company’s stock worth $55,000 after buying an additional 1,276 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Nabors Industries by 58.5% in the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 533 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Nabors Industries by 23.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 289 shares in the last quarter. Finally, State of Wyoming grew its holdings in Nabors Industries by 20.5% during the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 500 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.