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 report released on Sunday.

NBR has been the topic of several other reports. Morgan Stanley set a $55.00 price target on Nabors Industries and gave the stock an “overweight” rating in a report on Friday, October 17th. Royal Bank Of Canada set a $66.00 target price on shares of Nabors Industries and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Barclays restated an “underweight” rating and issued a $45.00 price target (up from $36.00) on shares of Nabors Industries in a research report on Tuesday, November 11th. Susquehanna reiterated a “neutral” rating and set a $56.00 price target on shares of Nabors Industries in a report on Thursday, October 30th. Finally, Citigroup reissued a “neutral” rating and issued a $58.00 price objective (up previously from $38.00) on shares of Nabors Industries in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $49.57.

Nabors Industries Stock Performance

NYSE NBR opened at $50.30 on Friday. The firm’s fifty day moving average price is $48.56 and its two-hundred day moving average price is $39.75. The stock has a market cap of $732.34 million, a PE ratio of 5.21 and a beta of 0.97. 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 fifty-two week low of $23.27 and a fifty-two week high of $69.20.

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

Hedge Funds Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. acquired a new position in Nabors Industries during the 1st quarter worth approximately $2,676,000. MQS Management LLC acquired a new stake in Nabors Industries in the second quarter valued at approximately $262,000. Apollo Management Holdings L.P. grew its stake in Nabors Industries by 26.2% in the first quarter. Apollo Management Holdings L.P. now owns 421,836 shares of the oil and gas company’s stock valued at $17,595,000 after acquiring an additional 87,552 shares during the period. Monaco Asset Management SAM bought a new stake in shares of Nabors Industries during the second quarter valued at approximately $210,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nabors Industries during the second quarter worth approximately $203,000. Institutional investors own 81.92% of the company’s stock.

About Nabors Industries

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.