Nabors Industries (NYSE:NBR) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Nabors Industries (NYSE:NBR) from a buy rating to a hold rating in a research note published on Saturday.

A number of other research analysts have also commented on NBR. Piper Sandler reiterated an “overweight” rating and issued a $80.00 price target (up previously from $65.00) on shares of Nabors Industries in a research note on Tuesday, February 17th. Barclays set a $50.00 target price on Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Citigroup lifted their price target on Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. UBS Group set a $70.00 price objective on Nabors Industries in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nabors Industries in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.00.

Nabors Industries Price Performance

Shares of NYSE NBR opened at $77.68 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.56 and a quick ratio of 1.47. The business has a 50-day moving average of $62.75 and a 200-day moving average of $50.44. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 4.71 and a beta of 0.99. Nabors Industries has a fifty-two week low of $23.27 and a fifty-two week high of $80.32.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $805.13 million during the quarter, compared to analysts’ expectations of $795.82 million. During the same quarter last year, the company posted ($6.67) earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Trading of Nabors Industries

A number of institutional investors and hedge funds have recently made changes to their positions in NBR. Islay Capital Management LLC bought a new position in Nabors Industries in the fourth quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Nabors Industries in the 4th quarter valued at $33,000. CWM LLC increased its stake 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 valued at $36,000 after purchasing an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Nabors Industries by 58.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 533 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Nabors Industries during the 4th quarter worth $40,000. Institutional investors own 81.92% of the company’s stock.

About Nabors Industries

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.