Nabors Industries (NYSE:NBR) Upgraded to Buy at Wall Street Zen

Nabors Industries (NYSE:NBR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Other equities analysts also recently issued research reports about the stock. Citigroup reaffirmed a “neutral” rating and set a $58.00 price target (up previously from $38.00) on shares of Nabors Industries in a research note on Monday, November 3rd. Royal Bank Of Canada set a $66.00 target price on Nabors Industries and gave the company a “sector perform” rating in a report on Thursday, October 30th. Morgan Stanley set a $55.00 price target on Nabors Industries and gave the company an “overweight” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a research note on Monday, December 8th. Finally, Barclays reiterated an “underweight” rating and set a $45.00 target price (up previously from $36.00) on shares of Nabors Industries in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $48.14.

Nabors Industries Stock Performance

NYSE:NBR opened at $54.59 on Friday. The firm has a market cap of $794.79 million, a PE ratio of 5.66 and a beta of 0.97. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.93. Nabors Industries has a 1-year low of $23.27 and a 1-year high of $69.20. The firm has a 50 day simple moving average of $48.25 and a 200-day simple moving average of $39.28.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). Nabors Industries had a negative return on equity of 30.85% and a net margin of 7.08%.The business had revenue of $825.51 million for the quarter, compared to analysts’ expectations of $824.61 million. During the same period in the prior year, the company earned ($6.86) EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts expect that Nabors Industries will post -6.22 EPS for the current year.

Institutional Trading of Nabors Industries

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted 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. Nebula Research & Development LLC increased its stake in Nabors Industries by 2.5% during the 2nd quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company’s stock worth $496,000 after buying an additional 428 shares during the period. State of Wyoming lifted its holdings in Nabors Industries by 20.5% in the 1st quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock worth $123,000 after buying an additional 500 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Nabors Industries by 58.5% in 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Nabors Industries by 11.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 570 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

About Nabors Industries

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.