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

Nabors Industries Ltd. (NYSE:NBR) has received a consensus recommendation of “Reduce” from the eight analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $41.63.

NBR has been the subject of several analyst reports. Barclays restated an “underweight” rating and issued a $28.00 target price (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Royal Bank Of Canada dropped their target price on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Morgan Stanley dropped their target price on shares of Nabors Industries from $75.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Susquehanna boosted their target price on shares of Nabors Industries from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, July 1st. Finally, Piper Sandler initiated coverage on shares of Nabors Industries in a research report on Monday. They issued an “underweight” rating and a $30.00 target price for the company.

Institutional Investors Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in Nabors Industries during the 4th quarter worth approximately $36,000. GAMMA Investing LLC grew its holdings in Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 900 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Nabors Industries by 3,866.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 1,276 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Nabors Industries during the 4th quarter worth approximately $97,000. Finally, State of Wyoming grew its holdings in Nabors Industries by 20.5% during the 1st quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 500 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

Nabors Industries Price Performance

Shares of Nabors Industries stock opened at $30.22 on Friday. Nabors Industries has a twelve month low of $23.27 and a twelve month high of $105.96. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 4.13. The company has a 50-day simple moving average of $30.41 and a two-hundred day simple moving average of $39.53. The stock has a market capitalization of $474.44 million, a price-to-earnings ratio of -1.93 and a beta of 1.52.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative return on equity of 38.71% and a negative net margin of 3.66%. The business had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. During the same quarter last year, the firm earned ($4.54) EPS. Nabors Industries’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts forecast that Nabors Industries will post -6.22 EPS for the current year.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.