Nabors Industries (NYSE:NBR) Upgraded at Wall Street Zen

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

Several other equities research analysts have also recently commented on NBR. Royal Bank Of Canada set a $66.00 price target on shares of Nabors Industries and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Morgan Stanley set a $65.00 target price on Nabors Industries in a report on Monday, December 15th. Susquehanna set a $64.00 price target on Nabors Industries and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 29th. Finally, Citigroup upped their price objective 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 analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.43.

Nabors Industries Trading Down 4.7%

NBR opened at $60.41 on Friday. The firm’s fifty day moving average is $52.93 and its two-hundred day moving average is $42.97. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.93 and a current ratio of 2.09. Nabors Industries has a twelve month low of $23.27 and a twelve month high of $69.20. The firm has a market cap of $879.63 million, a PE ratio of 6.26 and a beta of 0.94.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The business had revenue of $825.51 million during the quarter, compared to analyst estimates of $824.61 million. During the same quarter last year, the business earned ($6.86) earnings per share. Nabors Industries’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts anticipate that Nabors Industries will post -6.22 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of Nabors Industries by 244.6% during the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after buying an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in 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 acquiring an additional 533 shares during the period. Public Employees Retirement System of Ohio raised its holdings in 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 valued at $63,000 after acquiring an additional 289 shares during the period. Russell Investments Group Ltd. lifted its position in Nabors Industries by 153.9% during the third quarter. Russell Investments Group Ltd. now owns 3,222 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 1,953 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Nabors Industries by 47.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock worth $91,000 after acquiring an additional 1,044 shares during the period. 81.92% of the stock is owned by institutional investors.

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.