Nabors Industries (NYSE:NBR) Raised to Equal Weight at Barclays

Nabors Industries (NYSE:NBR) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Thursday. The firm currently has a $99.00 target price on the oil and gas company’s stock. Barclays‘s price objective points to a potential downside of 0.53% from the company’s previous close.

Other analysts have also issued reports about the company. UBS Group set a $70.00 price target on Nabors Industries in a report on Friday, February 13th. Wall Street Zen downgraded Nabors Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Royal Bank Of Canada boosted their target price on Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Citigroup upped their price target on Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $93.63.

Nabors Industries Stock Down 5.5%

Shares of NBR stock opened at $99.52 on Thursday. Nabors Industries has a 12-month low of $23.27 and a 12-month high of $105.80. The company has a quick ratio of 1.47, a current ratio of 1.97 and a debt-to-equity ratio of 2.22. The firm has a fifty day moving average of $83.58 and a 200-day moving average of $66.28. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 7.79 and a beta of 1.01.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($2.49) by $0.95. The business had revenue of $783.55 million for the quarter, compared to analysts’ expectations of $769.33 million. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 EPS. As a group, equities research analysts predict that Nabors Industries will post -4.6 earnings per share for the current fiscal year.

Institutional Trading of Nabors Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC boosted its position in Nabors Industries by 0.7% during the first quarter. Kestra Advisory Services LLC now owns 24,937 shares of the oil and gas company’s stock valued at $2,146,000 after purchasing an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Nabors Industries by 2.0% during 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 purchasing an additional 173 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Nabors Industries by 23.0% during 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 purchasing an additional 289 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of 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 valued at $95,000 after buying an additional 341 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its holdings in shares of Nabors Industries by 2.5% in the 2nd quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company’s stock valued at $496,000 after buying an additional 428 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

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.