Nabors Industries (NYSE:NBR) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Nabors Industries Ltd. (NYSE:NBR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $41.08 and traded as high as $53.88. Nabors Industries shares last traded at $53.3390, with a volume of 159,256 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NBR. Susquehanna reissued a “neutral” rating and set a $56.00 price target on shares of Nabors Industries in a research report on Thursday, October 30th. Barclays set a $50.00 target price on Nabors Industries and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Morgan Stanley set a $65.00 target price on Nabors Industries in a research note on Monday, December 15th. Wall Street Zen lowered Nabors Industries from a “buy” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Citigroup reiterated a “neutral” rating and issued a $58.00 price objective (up from $38.00) on shares of Nabors Industries in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.00.

Nabors Industries Price Performance

The firm has a market cap of $776.62 million, a price-to-earnings ratio of 5.53 and a beta of 0.97. The company’s fifty day moving average is $50.66 and its 200 day moving average is $41.08. The company has a quick ratio of 1.93, a current ratio of 2.09 and a debt-to-equity ratio of 2.50.

Nabors Industries (NYSE:NBR) last released 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%. Nabors Industries’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($6.86) EPS. On average, equities research analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. bought a new position in shares of Nabors Industries during the 3rd quarter worth approximately $479,000. Voleon Capital Management LP acquired a new stake in Nabors Industries during the 3rd quarter worth approximately $270,000. Verition Fund Management LLC bought a new stake in Nabors Industries in the 3rd quarter valued at $421,000. Susquehanna Advisors Group Inc. grew its holdings in Nabors Industries by 3.4% in the 3rd quarter. Susquehanna Advisors Group Inc. now owns 102,136 shares of the oil and gas company’s stock valued at $4,174,000 after buying an additional 3,383 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Nabors Industries by 23.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock worth $63,000 after buying an additional 289 shares during the period. Institutional investors 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.