Susquehanna Issues Positive Forecast for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR) had its price target upped by Susquehanna from $70.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company’s stock.

Several other research firms have also commented on NBR. UBS Group set a $70.00 price objective on shares of Nabors Industries in a research report on Friday, February 13th. Citigroup increased their price objective on shares of Nabors Industries from $85.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Piper Sandler reiterated an “overweight” rating and set a $80.00 price objective (up from $65.00) on shares of Nabors Industries in a research report on Tuesday, February 17th. Barclays increased their price objective on shares of Nabors Industries from $50.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen lowered shares of Nabors Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $71.38.

Nabors Industries Price Performance

NBR stock opened at $83.71 on Tuesday. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $92.38. 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 company has a fifty day simple moving average of $76.65 and a two-hundred day simple moving average of $59.98. The firm has a market capitalization of $1.23 billion, a P/E ratio of 5.08 and a beta of 0.87.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, beating the consensus estimate of ($2.93) by $3.10. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The business had revenue of $797.53 million during the quarter, compared to analyst estimates of $795.82 million. During the same quarter last year, the business earned ($6.67) earnings per share. Nabors Industries’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently made changes to their positions in the company. Islay Capital Management LLC bought a new stake in shares of Nabors Industries in the 4th quarter worth about $26,000. Quarry LP bought a new stake in shares of Nabors Industries in the 4th quarter worth about $33,000. CWM LLC lifted 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 acquiring an additional 631 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Nabors Industries in the 4th quarter worth about $40,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Nabors Industries by 23.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

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.