Nabors Industries Ltd. (NYSE:NBR) Receives Average Rating of “Hold” from Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $55.00.

A number of research firms have weighed in on NBR. Susquehanna restated a “neutral” rating and set a $56.00 price target on shares of Nabors Industries in a research report on Thursday, October 30th. Citigroup reissued a “neutral” rating and set a $58.00 price objective (up from $38.00) on shares of Nabors Industries in a report on Monday, November 3rd. Morgan Stanley set a $65.00 target price on Nabors Industries in a research report on Monday, December 15th. Barclays set a $50.00 target price on Nabors Industries and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada set a $66.00 price target on shares of Nabors Industries and gave the stock a “sector perform” rating in a research note on Thursday, October 30th.

Institutional Trading of Nabors Industries

Several hedge funds have recently added to or reduced their stakes in NBR. Public Employees Retirement System of Ohio increased its holdings in shares of 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 worth $63,000 after buying an additional 289 shares during the period. Nebula Research & Development LLC grew its position in Nabors Industries by 2.5% during the 2nd quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company’s stock worth $496,000 after acquiring an additional 428 shares during the last quarter. State of Wyoming increased its stake in Nabors Industries by 20.5% in the 1st quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 500 shares during the period. Ameritas Investment Partners Inc. increased its stake in Nabors Industries by 58.5% in 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, Dynamic Technology Lab Private Ltd lifted its position in Nabors Industries by 11.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 570 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

Nabors Industries Trading Up 1.4%

Shares of NBR opened at $51.97 on Tuesday. Nabors Industries has a 1-year low of $23.27 and a 1-year high of $69.20. The company has a market capitalization of $756.70 million, a P/E ratio of 5.39 and a beta of 0.97. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.93. The firm’s 50 day simple moving average is $49.41 and its 200 day simple moving average is $40.39.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) EPS for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). Nabors Industries had a negative return on equity of 30.85% and a net margin of 7.08%.The company had revenue of $825.51 million during the quarter, compared to the consensus estimate of $824.61 million. During the same period in the previous year, the company earned ($6.86) EPS. Nabors Industries’s quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts forecast that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

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.