Nabors Industries Ltd. (NYSE:NBR) Receives Average Recommendation of “Hold” from Analysts

Nabors Industries Ltd. (NYSE:NBRGet Free Report) has received a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $69.00.

A number of research analysts have issued reports on the stock. Susquehanna restated a “neutral” rating and set a $70.00 price target (up from $64.00) on shares of Nabors Industries in a research note on Friday, February 13th. UBS Group set a $70.00 price target on Nabors Industries in a research report on Friday, February 13th. Citigroup reiterated a “neutral” rating and set a $85.00 price target (up from $60.00) on shares of Nabors Industries in a research note on Tuesday. Barclays raised their price objective on Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Morgan Stanley reissued an “overweight” rating and set a $80.00 price target on shares of Nabors Industries in a research report on Wednesday, January 21st.

Read Our Latest Research Report on NBR

Hedge Funds Weigh In On Nabors Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. lifted its holdings in Nabors Industries by 62.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company’s stock valued at $68,418,000 after acquiring an additional 485,000 shares during the period. Vanguard Group Inc. raised its position in Nabors Industries by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company’s stock worth $47,298,000 after acquiring an additional 13,424 shares during the period. Apollo Management Holdings L.P. grew its position in shares of Nabors Industries by 54.2% in the second quarter. Apollo Management Holdings L.P. now owns 650,623 shares of the oil and gas company’s stock valued at $18,230,000 after purchasing an additional 228,787 shares during the period. Cibc World Market Inc. increased its stake in shares of Nabors Industries by 2.0% during the fourth quarter. Cibc World Market Inc. now owns 499,147 shares of the oil and gas company’s stock worth $27,104,000 after purchasing an additional 9,640 shares in the last quarter. Finally, Highbridge Capital Management LLC lifted its stake in Nabors Industries by 26.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock valued at $20,100,000 after buying an additional 104,219 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Stock Down 0.0%

Shares of NBR stock opened at $77.77 on Friday. The stock’s fifty day moving average price is $64.90 and its 200 day moving average price is $51.53. Nabors Industries has a 1-year low of $23.27 and a 1-year high of $80.32. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 4.72 and a beta of 0.99. 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 (NYSE:NBRGet Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($2.93) by $3.10. The business had revenue of $805.13 million for the quarter, compared to analyst estimates of $795.82 million. Nabors Industries had a negative return on equity of 17.63% and a net margin of 8.92%.The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($6.67) earnings per share. On average, research analysts expect that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Key Headlines Impacting Nabors Industries

Here are the key news stories impacting Nabors Industries this week:

About Nabors Industries

(Get Free Report)

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.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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