Nabors Industries (NYSE:NBR) Trading Up 3.6%

Nabors Industries Ltd. (NYSE:NBR)’s share price rose 3.6% on Wednesday . The stock traded as high as $89.05 and last traded at $88.54. Approximately 200,749 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 231,704 shares. The stock had previously closed at $85.45.

Wall Street Analyst Weigh In

NBR has been the topic of several research reports. Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a report on Thursday, April 25th. Citigroup reduced their price objective on Nabors Industries from $95.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Susquehanna decreased their price objective on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Nabors Industries has a consensus rating of “Hold” and an average target price of $112.50.

Nabors Industries Stock Performance

The company has a debt-to-equity ratio of 4.81, a current ratio of 1.78 and a quick ratio of 1.53. The firm has a fifty day moving average of $71.31 and a 200-day moving average of $77.71.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The company had revenue of $743.91 million during the quarter, compared to the consensus estimate of $730.59 million. Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. On average, research analysts forecast that Nabors Industries Ltd. will post -5.85 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in shares of Nabors Industries by 202.4% during the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 502 shares during the period. Russell Investments Group Ltd. raised its position in shares of Nabors Industries by 2,022.2% during the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after buying an additional 728 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Nabors Industries in the 4th quarter worth approximately $80,000. GAMMA Investing LLC acquired a new position in shares of Nabors Industries during the fourth quarter valued at approximately $97,000. Finally, SG Americas Securities LLC bought a new stake in Nabors Industries during the second quarter worth approximately $159,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.