Barclays Forecasts Strong Price Appreciation for Nabors Industries (NYSE:NBR) Stock

Nabors Industries (NYSE:NBR) had its target price raised by research analysts at Barclays from $50.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Barclays‘s price target suggests a potential downside of 16.19% from the company’s current price.

NBR has been the subject of a number of other reports. Piper Sandler restated an “overweight” rating and issued a $80.00 target price (up from $65.00) on shares of Nabors Industries in a research note on Tuesday, February 17th. UBS Group set a $70.00 price objective on Nabors Industries in a research note on Friday, February 13th. Susquehanna reaffirmed a “neutral” rating and issued a $70.00 target price (up from $64.00) on shares of Nabors Industries in a research report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and set a $80.00 price target on shares of Nabors Industries in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $77.00 price target (up from $70.00) on shares of Nabors Industries in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Nabors Industries has a consensus rating of “Hold” and a consensus target price of $69.00.

Nabors Industries Stock Performance

Nabors Industries stock opened at $77.56 on Wednesday. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.56 and a quick ratio of 1.47. Nabors Industries has a 12 month low of $23.27 and a 12 month high of $80.32. The company has a fifty day moving average price of $64.37 and a two-hundred day moving average price of $51.11. The company has a market cap of $1.14 billion, a PE ratio of 4.70 and a beta of 0.99.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.93) by $3.10. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The company had revenue of $805.13 million for the quarter, compared to the consensus estimate of $795.82 million. During the same period last year, the firm posted ($6.67) EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts expect that Nabors Industries will post -6.22 earnings per share for the current year.

Hedge Funds Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently bought and sold shares of NBR. Islay Capital Management LLC bought a new stake in shares of Nabors Industries during the 4th quarter worth about $26,000. Quarry LP acquired a new position in shares of Nabors Industries during the fourth quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Nabors Industries during the fourth quarter valued at approximately $40,000. CWM LLC raised its holdings in Nabors Industries by 244.6% during the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 631 shares in the last quarter. Finally, State of Wyoming lifted its position in Nabors Industries by 106.3% in the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 677 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.