Nabors Industries (NYSE:NBR) Hits New 52-Week High – Should You Buy?

Nabors Industries Ltd. (NYSE:NBR)’s share price hit a new 52-week high on Monday . The stock traded as high as $83.16 and last traded at $82.66, with a volume of 27902 shares trading hands. The stock had previously closed at $79.97.

Analyst Ratings Changes

NBR has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $77.00 price objective (up from $70.00) on shares of Nabors Industries in a report on Friday, February 13th. UBS Group set a $70.00 target price on Nabors Industries in a research note on Friday, February 13th. Barclays lifted their price target on shares of Nabors Industries from $50.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, February 25th. Citigroup reaffirmed 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.00.

Nabors Industries Trading Up 4.4%

The company has a 50 day moving average of $71.60 and a 200 day moving average of $56.23. 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 capitalization of $1.22 billion, a price-to-earnings ratio of 5.07 and a beta of 0.89.

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

Institutional Trading of Nabors Industries

A number of hedge funds have recently bought and sold shares of NBR. Islay Capital Management LLC purchased a new position in Nabors Industries in the fourth quarter worth approximately $26,000. Quarry LP purchased a new stake in Nabors Industries in the fourth quarter valued at $33,000. CWM LLC lifted its stake in shares of Nabors Industries by 244.6% in the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Nabors Industries by 58.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 533 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Nabors Industries during the 4th quarter worth $40,000. 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.