Nabors Industries (NYSE:NBR) Trading Up 3.6%

Nabors Industries Ltd. (NYSE:NBR)’s share price was up 3.6% during trading on Friday . The company traded as high as $106.00 and last traded at $106.00. Approximately 686 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 125,006 shares. The stock had previously closed at $102.32.

A number of equities analysts recently commented on NBR shares. Atb Cap Markets raised Nabors Industries from an “underperform” rating to an “outperform” rating in a report on Wednesday, September 29th. Royal Bank of Canada reiterated a “hold” rating on shares of Nabors Industries in a research note on Tuesday, November 23rd. Finally, Barclays increased their price target on Nabors Industries from $87.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, October 25th.

The company’s 50 day simple moving average is $90.65 and its 200-day simple moving average is $92.83. The company has a quick ratio of 2.30, a current ratio of 2.56 and a debt-to-equity ratio of 3.69. The firm has a market cap of $919.58 million, a P/E ratio of -1.41 and a beta of 3.38.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, October 26th. The oil and gas company reported ($15.79) EPS for the quarter, missing analysts’ consensus estimates of ($12.90) by ($2.89). Nabors Industries had a negative return on equity of 51.87% and a negative net margin of 29.33%. The business had revenue of $524.37 million during the quarter, compared to the consensus estimate of $503.63 million. During the same period last year, the firm earned ($22.81) EPS. Equities research analysts predict that Nabors Industries Ltd. will post -60.04 EPS for the current year.

Several institutional investors have recently bought and sold shares of NBR. Advisory Services Network LLC purchased a new position in shares of Nabors Industries during the 2nd quarter worth approximately $25,000. FORA Capital LLC purchased a new position in shares of Nabors Industries during the 2nd quarter worth approximately $53,000. PSI Advisors LLC purchased a new position in shares of Nabors Industries during the 3rd quarter worth approximately $56,000. US Asset Management LLC purchased a new position in shares of Nabors Industries during the 3rd quarter worth approximately $110,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Nabors Industries during the 3rd quarter worth approximately $203,000. 76.12% of the stock is owned by institutional investors and hedge funds.

About Nabors Industries (NYSE:NBR)

Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It operates through the following segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The U.S. Drilling segment includes land drilling activities in the lower 48 states and Alaska, as well as offshore operations in the Gulf of Mexico.

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