Nabors Industries (NYSE:NBR) Stock Rating Lowered by Wall Street Zen

Nabors Industries (NYSE:NBR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also weighed in on NBR. Barclays set a $50.00 price objective on Nabors Industries and gave the company a “neutral” rating in a report on Wednesday, December 17th. Piper Sandler reiterated an “overweight” rating and issued a $80.00 target price (up from $65.00) on shares of Nabors Industries in a research report on Tuesday, February 17th. Citigroup raised their price target on shares of Nabors Industries from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Morgan Stanley restated an “overweight” rating and set a $80.00 price target on shares of Nabors Industries in a research report on Wednesday, January 21st. Finally, UBS Group set a $70.00 price objective on shares of Nabors Industries in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.00.

Nabors Industries Trading Up 1.9%

NBR stock opened at $78.05 on Friday. Nabors Industries has a 12-month low of $23.27 and a 12-month high of $78.26. The business’s 50-day moving average is $62.27 and its 200 day moving average is $50.13. The company has a current ratio of 1.56, a quick ratio of 1.47 and a debt-to-equity ratio of 2.22. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 4.73 and a beta of 0.99.

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

Hedge Funds Weigh In On Nabors Industries

Large investors have recently modified their holdings of the business. Islay Capital Management LLC acquired a new stake in shares of Nabors Industries during the 4th quarter worth about $26,000. Quarry LP purchased a new position in Nabors Industries during the fourth quarter worth about $33,000. CWM LLC boosted its stake in Nabors Industries by 244.6% during the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after buying an additional 631 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of Nabors Industries by 58.5% during the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 533 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Nabors Industries in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.