Nabors Industries (NYSE:NBR) Issues Quarterly Earnings Results, Misses Estimates By $0.74 EPS

Nabors Industries (NYSE:NBR) announced its earnings results on Tuesday. The oil and gas company reported ($2.04) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.74), Zacks reports. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.

Nabors Industries Stock Performance

NBR traded down $3.19 during trading on Tuesday, reaching $75.46. 342,835 shares of the company’s stock were exchanged, compared to its average volume of 343,134. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. Nabors Industries has a 1 year low of $30.90 and a 1 year high of $112.90. The company’s fifty day simple moving average is $89.66 and its 200-day simple moving average is $82.81. The stock has a market capitalization of $1.12 billion, a P/E ratio of 5.91 and a beta of 0.96.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NBR shares. Morgan Stanley restated an “overweight” rating and set a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Piper Sandler lifted their target price on shares of Nabors Industries from $84.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of Nabors Industries from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $65.00 to $99.00 in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NBR. Adage Capital Partners GP L.L.C. lifted its position in Nabors Industries by 62.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company’s stock valued at $68,418,000 after purchasing an additional 485,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in Nabors Industries by 15.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 485,346 shares of the oil and gas company’s stock worth $26,354,000 after purchasing an additional 66,640 shares during the period. State Street Corp raised its stake in shares of Nabors Industries by 6.1% during the 4th quarter. State Street Corp now owns 407,013 shares of the oil and gas company’s stock valued at $22,101,000 after buying an additional 23,326 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Nabors Industries by 13.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 315,086 shares of the oil and gas company’s stock valued at $17,110,000 after buying an additional 37,109 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Nabors Industries by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 278,743 shares of the oil and gas company’s stock valued at $15,135,000 after buying an additional 19,701 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.