Nabors Industries (NYSE:NBR) Shares Up 8.5% – Time to Buy?

Nabors Industries Ltd. (NYSE:NBR)’s share price shot up 8.5% on Friday . The stock traded as high as $69.58 and last traded at $69.3140. 108,133 shares traded hands during trading, a decline of 71% from the average session volume of 367,509 shares. The stock had previously closed at $63.88.

Analyst Ratings Changes

A number of research firms recently weighed in on NBR. Royal Bank Of Canada reissued a “sector perform” rating and set a $77.00 target price (up from $70.00) on shares of Nabors Industries in a report on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $80.00 price objective on shares of Nabors Industries in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a report on Monday, December 29th. Finally, Citigroup increased their price target on shares of Nabors Industries from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Nabors Industries has an average rating of “Hold” and a consensus price target of $62.13.

Nabors Industries Stock Performance

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 stock has a market cap of $1.00 billion, a P/E ratio of 4.17 and a beta of 0.99. The stock has a 50-day simple moving average of $60.29 and a 200-day simple moving average of $48.26.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($2.93) by $3.10. Nabors Industries had a negative return on equity of 18.89% and a net margin of 8.92%.The company had revenue of $805.13 million for the quarter, compared to the consensus estimate of $795.82 million. During the same quarter last year, the business posted ($6.67) EPS. Nabors Industries’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts forecast that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.

Institutional Trading of Nabors Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in Nabors Industries by 97.1% in the 1st quarter. AQR Capital Management LLC now owns 16,770 shares of the oil and gas company’s stock worth $699,000 after purchasing an additional 8,260 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Nabors Industries by 11.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock worth $231,000 after buying an additional 570 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Nabors Industries by 67.1% in the second quarter. Inspire Investing LLC now owns 13,831 shares of the oil and gas company’s stock valued at $388,000 after acquiring an additional 5,552 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Nabors Industries during the second quarter valued at approximately $203,000. Finally, Ethic Inc. purchased a new stake in shares of Nabors Industries during the second quarter valued at approximately $220,000. 81.92% of the stock is owned by institutional investors.

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.