Nabors Industries (NYSE:NBR) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Nabors Industries (NYSE:NBR) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the stock. Citigroup boosted their target price on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Piper Sandler restated an “overweight” rating and issued a $130.00 price target (up from $120.00) on shares of Nabors Industries in a research report on Thursday. Zacks Research upgraded shares of Nabors Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Weiss Ratings cut shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, Barclays raised Nabors Industries from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $65.00 to $99.00 in a research report on Thursday, May 7th. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.00.

Nabors Industries Trading Up 3.7%

Shares of NYSE:NBR opened at $85.28 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.82 and a current ratio of 1.89. The stock’s 50-day moving average is $87.61 and its 200-day moving average is $83.16. The company has a market cap of $1.26 billion, a P/E ratio of 6.35 and a beta of 0.96. Nabors Industries has a 52-week low of $30.90 and a 52-week high of $112.90.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%.The business had revenue of $814.79 million for the quarter. Equities research analysts predict that Nabors Industries will post -2.96 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

Several institutional investors have recently modified their holdings of NBR. Islay Capital Management LLC bought a new position in Nabors Industries in the fourth quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Nabors Industries during the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Nabors Industries in the 4th quarter valued at $40,000. EverSource Wealth Advisors LLC boosted its position in shares of Nabors Industries by 29.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 141 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Nabors Industries by 23.0% in the third 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 purchasing an additional 289 shares during the last quarter. Institutional investors and hedge funds 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.