Susquehanna Cuts Nabors Industries (NYSE:NBR) Price Target to $85.00

Nabors Industries (NYSE:NBR) had its price target lowered by equities researchers at Susquehanna from $105.00 to $85.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price target would suggest a potential upside of 8.84% from the company’s previous close.

A number of other brokerages also recently issued reports on NBR. Citigroup boosted their price objective on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $65.00 to $99.00 in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $100.00 target price (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Piper Sandler boosted their price target on shares of Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $100.57.

Nabors Industries Trading Up 2.3%

NBR opened at $78.10 on Wednesday. The business has a 50 day simple moving average of $94.74 and a two-hundred day simple moving average of $79.98. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.12 and a beta of 0.96. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.97 and a quick ratio of 1.82. Nabors Industries has a one year low of $29.50 and a one year high of $112.90.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.49) by $0.95. The firm had revenue of $783.55 million for the quarter, compared to analyst estimates of $769.33 million. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $2.18 EPS. Analysts predict that Nabors Industries will post -3.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NBR. Islay Capital Management LLC purchased a new position in Nabors Industries during the 4th quarter valued at about $26,000. Quarry LP purchased a new stake in Nabors Industries in the fourth quarter worth about $33,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nabors Industries during the fourth quarter valued at approximately $40,000. EverSource Wealth Advisors LLC increased its stake in shares of Nabors Industries by 29.3% during the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Nabors Industries by 23.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 289 shares during the last quarter. 81.92% of the stock is currently 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.