Nabors Industries (NYSE:NBR) Stock Rating Lowered by Wall Street Zen

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

A number of other analysts have also weighed in on NBR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a report on Monday, December 29th. Barclays set a $50.00 price target on shares of Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Susquehanna reiterated a “neutral” rating and issued a $70.00 price objective (up previously from $64.00) on shares of Nabors Industries in a research report on Friday, February 13th. Royal Bank Of Canada reissued a “sector perform” rating and set a $77.00 price objective (up previously from $70.00) on shares of Nabors Industries in a research note on Friday, February 13th. Finally, Citigroup upped their target price on Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Nabors Industries Stock Performance

NYSE:NBR opened at $78.05 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.93 and a current ratio of 1.56. Nabors Industries has a 52-week low of $23.27 and a 52-week high of $78.26. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 4.73 and a beta of 0.99. The business’s fifty day moving average is $62.27 and its 200 day moving average is $49.90.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, topping the consensus estimate of ($2.93) by $3.10. Nabors Industries had a negative return on equity of 17.63% and a net margin of 8.92%.The business had revenue of $805.13 million during the quarter, compared to the consensus estimate of $795.82 million. During the same quarter last year, the company earned ($6.67) EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Research analysts predict that Nabors Industries will post -6.22 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. lifted its position in Nabors Industries by 62.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company’s stock worth $68,418,000 after buying an additional 485,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Nabors Industries by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company’s stock worth $47,298,000 after acquiring an additional 13,424 shares in the last quarter. Apollo Management Holdings L.P. lifted its holdings in shares of Nabors Industries by 54.2% in 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 acquiring an additional 228,787 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Nabors Industries by 2.0% in the 4th quarter. Cibc World Market Inc. now owns 499,147 shares of the oil and gas company’s stock valued at $27,104,000 after purchasing an additional 9,640 shares in the last quarter. Finally, Highbridge Capital Management LLC grew its holdings in shares of 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 valued at $20,100,000 after purchasing an additional 104,219 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

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.