Nabors Industries (NYSE:NBR) Given New $39.00 Price Target at Susquehanna

Nabors Industries (NYSE:NBR) had its target price upped by Susquehanna from $37.00 to $39.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays restated an “underweight” rating and set a $28.00 target price (down previously from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Piper Sandler reissued an “underweight” rating and issued a $32.00 price objective (up from $30.00) on shares of Nabors Industries in a research note on Thursday, August 14th. Royal Bank Of Canada lifted their target price on shares of Nabors Industries from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. dropped their target price on shares of Nabors Industries from $38.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, May 28th. Finally, Morgan Stanley cut their price target on Nabors Industries from $75.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Nabors Industries has an average rating of “Reduce” and a consensus target price of $43.00.

Nabors Industries Stock Performance

NYSE:NBR opened at $36.13 on Wednesday. The stock has a 50-day simple moving average of $32.69 and a two-hundred day simple moving average of $34.18. Nabors Industries has a 52-week low of $23.27 and a 52-week high of $86.10. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.63 and a current ratio of 1.79. The firm has a market capitalization of $568.64 million, a PE ratio of -2.57 and a beta of 1.52.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, July 29th. The oil and gas company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($2.05) by ($0.66). Nabors Industries had a negative return on equity of 35.99% and a negative net margin of 3.51%.The company had revenue of $832.79 million during the quarter, compared to the consensus estimate of $857.98 million. During the same period last year, the business earned ($4.29) EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts forecast that Nabors Industries will post -6.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Nabors Industries in the fourth quarter worth about $36,000. Ameritas Investment Partners Inc. grew its holdings in Nabors Industries by 58.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 533 shares in the last quarter. GAMMA Investing LLC increased its stake in Nabors Industries by 520.2% in 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. raised its holdings in shares of 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 in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Nabors Industries by 47.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock valued at $91,000 after acquiring an additional 1,044 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.