Nabors Industries Ltd. (NYSE:NBR – Get Free Report) shares traded up 7.4% during mid-day trading on Wednesday . The stock traded as high as $103.23 and last traded at $103.5560. 107,494 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 360,399 shares. The stock had previously closed at $96.45.
Analyst Ratings Changes
NBR has been the topic of several analyst reports. Weiss Ratings cut shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wall Street Zen cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Susquehanna reiterated a “neutral” rating and set a $105.00 price target (up from $85.00) on shares of Nabors Industries in a report on Thursday, April 30th. UBS Group set a $70.00 price objective on shares of Nabors Industries in a research note on Friday, February 13th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.43.
Nabors Industries Stock Up 7.2%
Nabors Industries (NYSE:NBR – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($2.49) by $0.95. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The business had revenue of $783.55 million for the quarter, compared to analysts’ expectations of $769.33 million. During the same quarter last year, the firm earned $2.18 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts predict that Nabors Industries Ltd. will post -3.52 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in Nabors Industries by 29.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares during the period. Kestra Advisory Services LLC grew its holdings in Nabors Industries by 0.7% in the 1st quarter. Kestra Advisory Services LLC now owns 24,937 shares of the oil and gas company’s stock worth $2,146,000 after acquiring an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Nabors Industries by 2.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,634 shares of the oil and gas company’s stock worth $469,000 after acquiring an additional 173 shares during the last quarter. Public Employees Retirement System of Ohio grew 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 worth $63,000 after acquiring an additional 289 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Nabors Industries by 24.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company’s stock worth $95,000 after acquiring an additional 341 shares during the last quarter. 81.92% of the stock is owned by institutional investors.
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.
Read More
- Five stocks we like better than Nabors Industries
- The Biggest Opportunity From SpaceX’s IPO May Surprise You
- Palantir’s AIPCon Shows Why Customers Are Fueling the Bull Case
- Chewy’s Growth Engine Is Stronger Than the Market Thinks
- Nebius Group’s £1.7 Billion UK Expansion Fuels Bullish Case Despite the Pullback
Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.
