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

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $59.1429.

Several research firms have weighed in on NBR. Royal Bank Of Canada restated a “sector perform” rating and set a $70.00 price target on shares of Nabors Industries in a report on Thursday, January 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nabors Industries in a report on Monday, December 29th. Piper Sandler raised shares of 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 research note on Thursday, December 18th. Barclays set a $50.00 price objective on shares of Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Finally, Citigroup boosted their target price on shares of Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th.

Institutional Investors Weigh In On Nabors Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBR. CWM LLC boosted its holdings in shares of Nabors Industries by 244.6% in the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 631 shares during the period. Ameritas Investment Partners Inc. lifted its position in Nabors Industries by 58.5% in the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock worth $40,000 after buying an additional 533 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Nabors Industries by 23.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock worth $63,000 after buying an additional 289 shares during the period. Russell Investments Group Ltd. increased its position in Nabors Industries by 153.9% during the third quarter. Russell Investments Group Ltd. now owns 3,222 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 1,953 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in Nabors Industries by 47.7% during the second 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. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Stock Up 4.4%

Shares of NBR stock opened at $69.03 on Wednesday. The stock has a market cap of $1.01 billion, a P/E ratio of 7.15 and a beta of 0.99. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $70.61. The company has a quick ratio of 1.93, a current ratio of 2.09 and a debt-to-equity ratio of 2.50. The company’s fifty day simple moving average is $57.96 and its two-hundred day simple moving average is $46.73.

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.