Nabors Industries (NYSE:NBR) Trading 6.3% Higher – Still a Buy?

Nabors Industries Ltd. (NYSE:NBR)’s share price was up 6.3% during trading on Monday . The company traded as high as $111.28 and last traded at $111.9120. Approximately 78,184 shares traded hands during trading, a decline of 79% from the average daily volume of 371,326 shares. The stock had previously closed at $105.27.

Analyst Ratings Changes

NBR has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Susquehanna restated a “neutral” rating and issued a $105.00 price objective (up from $85.00) on shares of Nabors Industries in a report on Thursday, April 30th. Piper Sandler upped their target price on shares of Nabors Industries from $84.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Citigroup raised their price target 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. Finally, UBS Group set a $70.00 price target 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and a consensus target price of $93.63.

Nabors Industries Stock Performance

The stock has a 50-day moving average price of $88.07 and a 200 day moving average price of $69.95. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 8.48 and a beta of 1.01.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($2.49) by $0.95. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The company had revenue of $783.55 million during the quarter, compared to analysts’ expectations of $769.33 million. During the same quarter in the previous year, the business posted $2.18 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Nabors Industries Ltd. will post -3.52 EPS for the current year.

Institutional Trading of Nabors Industries

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in shares of Nabors Industries by 29.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 141 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in Nabors Industries by 0.7% in the first quarter. Kestra Advisory Services LLC now owns 24,937 shares of the oil and gas company’s stock valued at $2,146,000 after purchasing an additional 168 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Nabors Industries by 2.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,634 shares of the oil and gas company’s stock valued at $469,000 after purchasing an additional 173 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Nabors Industries by 23.0% in 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. Finally, Quadrant Capital Group LLC raised its holdings in Nabors Industries by 24.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 341 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Company Profile

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.