Nabors Industries (NYSE:NBR) Issues Earnings Results, Beats Estimates By $3.28 EPS

Nabors Industries (NYSE:NBR) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($3.11) by $3.28, Zacks reports. Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%.

Nabors Industries Trading Up 3.5%

Shares of NBR stock traded up $2.39 on Wednesday, reaching $70.73. 405,172 shares of the stock were exchanged, compared to its average volume of 358,307. The stock has a 50 day moving average price of $59.83 and a 200 day moving average price of $47.99. The stock has a market cap of $1.03 billion, a PE ratio of 7.33 and a beta of 0.99. Nabors Industries has a one year low of $23.27 and a one year high of $72.06. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.93.

Hedge Funds Weigh In On Nabors Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of NBR. Public Employees Retirement System of Ohio boosted its position 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 purchasing an additional 289 shares during the last quarter. State of Wyoming lifted its position in Nabors Industries by 106.3% in the 4th quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 677 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Nabors Industries by 153.9% in 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 purchasing an additional 1,953 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Nabors Industries by 720.6% during the 2nd quarter. Osaic Holdings Inc. now owns 5,703 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 5,008 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nabors Industries by 41.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,744 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 2,277 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on NBR shares. Citigroup lifted their target price on shares of Nabors Industries from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 target price on shares of Nabors Industries in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Susquehanna set a $64.00 target price on Nabors Industries and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $70.00 price target on shares of Nabors Industries in a research note on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.14.

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.