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

Nabors Industries Ltd. (NYSE:NBRGet Free Report) has earned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $69.00.

Several equities research analysts have issued reports on NBR shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 29th. UBS Group set a $70.00 price objective on Nabors Industries in a report on Friday, February 13th. Susquehanna reaffirmed a “neutral” rating and set a $70.00 target price (up from $64.00) on shares of Nabors Industries in a research report on Friday, February 13th. Barclays increased their price target on Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Citigroup restated a “neutral” rating and issued a $85.00 price objective (up from $60.00) on shares of Nabors Industries in a report on Tuesday.

Get Our Latest Research Report on Nabors Industries

Hedge Funds Weigh In On Nabors Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Islay Capital Management LLC bought a new position in Nabors Industries in the fourth quarter worth approximately $26,000. Quarry LP bought a new stake in Nabors Industries during the fourth quarter valued at about $33,000. Aster Capital Management DIFC Ltd purchased a new position in Nabors Industries in the fourth quarter valued at about $40,000. CWM LLC raised its holdings in Nabors Industries by 244.6% in the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 631 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Nabors Industries by 106.3% during the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 677 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Key Stories Impacting Nabors Industries

Here are the key news stories impacting Nabors Industries this week:

Nabors Industries Stock Performance

Shares of Nabors Industries stock opened at $77.77 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.56 and a debt-to-equity ratio of 2.22. The stock’s fifty day moving average is $64.90 and its two-hundred day moving average is $51.53. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $80.32. The company has a market capitalization of $1.14 billion, a PE ratio of 4.72 and a beta of 0.99.

Nabors Industries (NYSE:NBRGet Free Report) last issued its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.93) by $3.10. The firm had revenue of $805.13 million during the quarter, compared to analyst estimates of $795.82 million. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($6.67) earnings per share. As a group, analysts expect that Nabors Industries will post -6.22 earnings per share for the current year.

About Nabors Industries

(Get Free Report)

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.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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