Nabors Industries (NYSE:NBR) Hits New 12-Month High – Should You Buy?

Nabors Industries Ltd. (NYSE:NBR) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $82.53 and last traded at $82.88, with a volume of 55669 shares traded. The stock had previously closed at $81.13.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NBR. Weiss Ratings restated a “hold (c-)” rating on shares of Nabors Industries in a research note on Monday, December 29th. Citigroup reiterated a “neutral” rating and set a $85.00 price objective (up from $60.00) on shares of Nabors Industries in a report on Tuesday, February 24th. Barclays boosted their target price on shares of Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 25th. Wall Street Zen lowered shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, UBS Group set a $70.00 price target on Nabors Industries in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and a consensus price target of $69.00.

Nabors Industries Stock Performance

The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.56. The stock has a market cap of $1.21 billion, a PE ratio of 4.99 and a beta of 0.89. The company’s 50 day simple moving average is $68.01 and its 200 day simple moving average is $53.56.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($2.93) by $3.10. The firm had revenue of $805.13 million for the quarter, compared to the consensus estimate of $795.82 million. Nabors Industries had a negative return on equity of 17.63% and a net margin of 8.92%.The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($6.67) EPS. Analysts expect that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NBR. Adage Capital Partners GP L.L.C. increased its position in shares of Nabors Industries by 62.6% during the 4th 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 last quarter. Vanguard Group Inc. grew its position in Nabors Industries by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company’s stock valued at $47,298,000 after buying an additional 13,424 shares during the period. Apollo Management Holdings L.P. grew its position in Nabors Industries by 54.2% during the second quarter. Apollo Management Holdings L.P. now owns 650,623 shares of the oil and gas company’s stock valued at $18,230,000 after buying an additional 228,787 shares during the period. Cibc World Market Inc. increased its holdings in Nabors Industries by 2.0% during the fourth quarter. Cibc World Market Inc. now owns 499,147 shares of the oil and gas company’s stock worth $27,104,000 after buying an additional 9,640 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its holdings in Nabors Industries by 26.9% during the third quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock worth $20,100,000 after buying an additional 104,219 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.