Nabors Industries (NYSE:NBR) Sets New 52-Week High – Should You Buy?

Nabors Industries Ltd. (NYSE:NBR) reached a new 52-week high on Friday . The stock traded as high as $68.20 and last traded at $66.8580, with a volume of 29046 shares. The stock had previously closed at $65.06.

Analyst Ratings Changes

Several research analysts have commented on NBR shares. Citigroup lifted their price target on Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Piper Sandler raised Nabors Industries from an “underweight” rating to an “overweight” rating and upped their price target for the company from $32.00 to $65.00 in a report on Thursday, December 18th. Susquehanna set a $64.00 price objective on Nabors Industries and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Barclays set a $50.00 price objective on Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of Nabors Industries in a research note on Thursday, January 15th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.14.

Nabors Industries Trading Down 0.1%

The company’s 50-day moving average is $55.19 and its 200-day moving average is $44.93. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.93 and a current ratio of 2.09. The firm has a market cap of $946.61 million, a price-to-earnings ratio of 6.74 and a beta of 0.94.

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

Institutional Investors Weigh In On Nabors Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its position in shares of Nabors Industries by 25.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company’s stock worth $21,015,000 after acquiring an additional 150,000 shares during the last quarter. Apollo Management Holdings L.P. raised its holdings in Nabors Industries by 54.2% during the 2nd quarter. Apollo Management Holdings L.P. now owns 650,623 shares of the oil and gas company’s stock worth $18,230,000 after purchasing an additional 228,787 shares during the last quarter. Highbridge Capital Management LLC raised its holdings 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 worth $20,100,000 after purchasing an additional 104,219 shares during the last quarter. Cibc World Market Inc. lifted its position in Nabors Industries by 10.6% during the 3rd quarter. Cibc World Market Inc. now owns 489,507 shares of the oil and gas company’s stock valued at $20,006,000 after purchasing an additional 46,802 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Nabors Industries by 10.3% in the 3rd quarter. American Century Companies Inc. now owns 354,901 shares of the oil and gas company’s stock valued at $14,505,000 after purchasing an additional 33,101 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.