Nabors Industries (NYSE:NBR) Releases Earnings Results, Misses Expectations By $2.92 EPS

Nabors Industries (NYSE:NBR) announced its quarterly earnings data on Wednesday. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($2.92), reports. The firm had revenue of $743.91 million during the quarter, compared to the consensus estimate of $730.59 million. Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%.

Nabors Industries Stock Up 1.3 %

NBR traded up $0.96 on Friday, hitting $77.20. The company had a trading volume of 168,015 shares, compared to its average volume of 242,812. The stock has a fifty day moving average price of $83.14 and a 200-day moving average price of $87.28. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.78 and a quick ratio of 1.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in shares of Nabors Industries by 5.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,416 shares of the oil and gas company’s stock valued at $790,000 after acquiring an additional 340 shares during the period. Sippican Capital Advisors acquired a new position in shares of Nabors Industries during the 3rd quarter worth approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 635 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Nabors Industries during the 3rd quarter valued at approximately $2,673,000. Finally, Nisa Investment Advisors LLC grew its stake in Nabors Industries by 0.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock valued at $2,070,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

NBR has been the subject of several research reports. Morgan Stanley lowered their target price on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Susquehanna lowered their price objective on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Benchmark reissued a “hold” rating on shares of Nabors Industries in a research report on Thursday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and an average price target of $127.80.

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.