Nabors Industries Ltd. (NYSE:NBR) Given Average Rating of “Hold” by Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $93.6250.

Several equities research analysts have recently weighed in on NBR shares. Wall Street Zen cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Piper Sandler upped their price target on shares of Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. UBS Group set a $70.00 price objective on Nabors Industries in a research report on Friday, February 13th. Finally, Citigroup boosted their price objective on Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 1st.

Nabors Industries Price Performance

Shares of NBR opened at $104.77 on Friday. The business has a 50-day moving average of $89.05 and a 200-day moving average of $70.75. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 8.20 and a beta of 1.01. Nabors Industries has a 1 year low of $23.27 and a 1 year high of $112.90.

Nabors Industries (NYSE:NBR) last announced its earnings results 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 negative return on equity of 8.66% and a net margin of 7.32%.The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 earnings per share. As a group, equities research analysts anticipate that Nabors Industries will post -3.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Nabors Industries by 29.3% during the first 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 raised its holdings in shares of 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 raised its holdings in shares of 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 lifted its position 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 in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Nabors Industries by 24.1% during 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 purchasing an additional 341 shares during the last quarter. Institutional investors and hedge funds 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.