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

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus recommendation of “Hold” from the seven analysts that are covering the company, 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 12 month price target among brokers that have covered the stock in the last year is $103.4286.

Several analysts have recently weighed in on the stock. Susquehanna reiterated a “neutral” rating and issued a $105.00 price objective (up from $85.00) on shares of Nabors Industries in a research note on Thursday, April 30th. Royal Bank Of Canada increased their target price on Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Morgan Stanley reiterated an “overweight” rating and issued a $100.00 target price (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Barclays upgraded Nabors Industries from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $65.00 to $99.00 in a report on Thursday, May 7th. Finally, Citigroup increased their target price on Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 1st.

Nabors Industries Stock Performance

NYSE:NBR opened at $99.86 on Tuesday. The company has a fifty day moving average of $93.10 and a 200-day moving average of $74.77. The firm has a market capitalization of $1.48 billion, a P/E ratio of 7.82 and a beta of 0.96. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 2.22. Nabors Industries has a twelve month low of $27.18 and a twelve month high of $112.90.

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

Hedge Funds Weigh In On Nabors Industries

A number of large investors have recently modified their holdings of NBR. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Nabors Industries by 62.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company’s stock worth $68,418,000 after purchasing an additional 485,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Nabors Industries by 42.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company’s stock valued at $38,545,000 after purchasing an additional 132,747 shares during the last quarter. Two Sigma Investments LP boosted its stake in Nabors Industries by 232.2% during the 3rd quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company’s stock valued at $7,595,000 after purchasing an additional 129,904 shares during the last quarter. Marshall Wace LLP boosted its stake in Nabors Industries by 446.9% during the 4th quarter. Marshall Wace LLP now owns 132,715 shares of the oil and gas company’s stock valued at $7,206,000 after purchasing an additional 108,447 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its stake in Nabors Industries by 26.9% during 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 purchasing an additional 104,219 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

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.