Nabors Industries Ltd. (NYSE:NBR) Receives $38.86 Consensus Target Price from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus recommendation of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.8571.

A number of equities analysts have issued reports on the company. Susquehanna increased their target price on Nabors Industries from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nabors Industries in a report on Tuesday, October 14th. Barclays reiterated an “underweight” rating and set a $36.00 target price (up previously from $29.00) on shares of Nabors Industries in a report on Monday, September 22nd. Royal Bank Of Canada increased their target price on Nabors Industries from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Thursday, August 21st. Finally, Morgan Stanley set a $55.00 target price on Nabors Industries and gave the stock an “overweight” rating in a report on Friday, October 17th.

Nabors Industries Stock Up 10.1%

Shares of NBR opened at $51.93 on Monday. The business’s 50 day simple moving average is $40.55 and its 200-day simple moving average is $34.17. The company has a market capitalization of $817.39 million, a P/E ratio of 5.38 and a beta of 1.46. Nabors Industries has a one year low of $23.27 and a one year high of $86.10. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.79 and a quick ratio of 1.63.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) EPS for the quarter, missing the consensus estimate of ($2.37) by ($1.30). Nabors Industries had a net margin of 7.08% and a negative return on equity of 35.83%. The business had revenue of $818.19 million for the quarter, compared to the consensus estimate of $824.61 million. During the same quarter in the previous year, the firm posted ($6.86) EPS. The business’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Nabors Industries will post -6.22 EPS for the current fiscal year.

Insider Transactions at Nabors Industries

In related news, major shareholder Varde Partners Inc sold 312,378 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $41.04, for a total value of $12,819,993.12. Following the completion of the sale, the insider directly owned 1,406,052 shares in the company, valued at approximately $57,704,374.08. This trade represents a 18.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. CWM LLC increased its holdings in shares of Nabors Industries by 244.6% during the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 631 shares during the period. GAMMA Investing LLC increased its holdings in shares of Nabors Industries by 520.2% during the first quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 900 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Nabors Industries by 3,866.7% during the first quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 1,276 shares during the period. Ameritas Investment Partners Inc. increased its stake in Nabors Industries by 58.5% in the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 533 shares during the last quarter. Finally, State of Wyoming increased its stake in Nabors Industries by 20.5% in the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 500 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.