Analysts Set Nabors Industries Ltd. (NYSE:NBR) Price Target at $69.00

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $69.00.

A number of equities analysts have commented on NBR shares. Weiss Ratings restated a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Nabors Industries in a report on Wednesday, January 21st. Barclays lifted their target price on shares of Nabors Industries from $50.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, February 25th. Piper Sandler reissued an “overweight” rating and issued a $80.00 target price (up from $65.00) on shares of Nabors Industries in a report on Tuesday, February 17th. Finally, UBS Group set a $70.00 price target on Nabors Industries in a research report on Friday, February 13th.

Institutional Trading of Nabors Industries

Large investors have recently made changes to their positions in the business. 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. Apollo Management Holdings L.P. grew its holdings in Nabors Industries by 54.2% during the 2nd quarter. Apollo Management Holdings L.P. now owns 650,623 shares of the oil and gas company’s stock worth $18,230,000 after acquiring an additional 228,787 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. Geode Capital Management LLC increased its position in Nabors Industries by 59.5% in the 2nd quarter. Geode Capital Management LLC now owns 338,566 shares of the oil and gas company’s stock valued at $9,488,000 after acquiring an additional 126,243 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Nabors Industries by 446.9% in the fourth quarter. Marshall Wace LLP now owns 132,715 shares of the oil and gas company’s stock worth $7,206,000 after acquiring an additional 108,447 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Up 0.8%

Shares of NYSE NBR opened at $78.62 on Friday. Nabors Industries has a 52-week low of $23.27 and a 52-week high of $82.30. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.56. The business has a fifty day moving average of $67.45 and a two-hundred day moving average of $53.10. The stock has a market cap of $1.15 billion, a PE ratio of 4.77 and a beta of 0.89.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($2.93) by $3.10. The business had revenue of $805.13 million for the quarter, compared to analyst estimates of $795.82 million. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The firm’s quarterly 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) EPS. As a group, equities research analysts expect that Nabors Industries will post -6.22 earnings per share 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.