Nabors Industries Ltd. (NYSE:NBR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $102.00.

A number of equities analysts have commented on NBR shares. Barclays upgraded shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $65.00 to $99.00 in a research report on Thursday, May 7th. Zacks Research raised shares of Nabors Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Wall Street Zen cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of Nabors Industries in a report on Friday. Finally, Susquehanna decreased their price target on Nabors Industries from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th.

Institutional Trading of Nabors Industries

Several large investors have recently made changes to their positions in NBR. Adage Capital Partners GP L.L.C. raised its holdings in shares of Nabors Industries by 62.6% in 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 buying an additional 485,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Nabors Industries by 42.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company’s stock worth $38,545,000 after acquiring an additional 132,747 shares during the last quarter. Two Sigma Investments LP increased its position in Nabors Industries by 232.2% in the 3rd quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company’s stock valued at $7,595,000 after acquiring an additional 129,904 shares in the last quarter. Marshall Wace LLP increased its position in Nabors Industries by 446.9% in the 4th quarter. Marshall Wace LLP now owns 132,715 shares of the oil and gas company’s stock valued at $7,206,000 after acquiring an additional 108,447 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Nabors Industries by 846.5% in the third quarter. Millennium Management LLC now owns 112,106 shares of the oil and gas company’s stock worth $4,582,000 after acquiring an additional 100,262 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Price Performance

Nabors Industries stock opened at $83.41 on Wednesday. The business has a 50 day simple moving average of $86.81 and a 200 day simple moving average of $83.62. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.82. The company has a market capitalization of $1.23 billion, a PE ratio of 6.21 and a beta of 0.98. Nabors Industries has a one year low of $31.10 and a one year high of $112.90.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. The firm had revenue of $814.79 million during the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%. On average, sell-side analysts forecast that Nabors Industries will post -2.96 EPS for the current fiscal year.

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.