Nabors Industries Ltd. (NYSE:NBR) Given Consensus Rating of “Hold” by Brokerages

Nabors Industries Ltd. (NYSE:NBR) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $103.4286.

NBR has been the subject of several recent analyst reports. Weiss Ratings cut shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Wall Street Zen cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Citigroup raised their price objective on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Royal Bank Of Canada raised their price objective on shares of Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th.

Nabors Industries Stock Up 4.1%

Nabors Industries stock opened at $99.86 on Tuesday. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. Nabors Industries has a 1-year low of $27.18 and a 1-year high of $112.90. The company has a market cap of $1.48 billion, a PE ratio of 7.82 and a beta of 0.96. The stock’s 50 day moving average price is $93.10 and its 200 day moving average price is $74.77.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.49) by $0.95. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.The firm had revenue of $783.55 million for the quarter, compared to the consensus estimate of $769.33 million. During the same period in the previous year, the business earned $2.18 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Nabors Industries will post -3.52 EPS for the current fiscal year.

Institutional Trading of Nabors Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Nabors Industries by 29.3% in the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of Nabors Industries by 0.7% in the first quarter. Kestra Advisory Services LLC now owns 24,937 shares of the oil and gas company’s stock valued at $2,146,000 after purchasing an additional 168 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Nabors Industries by 2.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,634 shares of the oil and gas company’s stock valued at $469,000 after purchasing an additional 173 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Nabors Industries by 23.0% in 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 purchasing an additional 289 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in shares of Nabors Industries by 24.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 341 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Company Profile

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.