Nabors Industries (NYSE:NBR) Stock Price Expected to Rise, Barclays Analyst Says

Nabors Industries (NYSE:NBR) had its price target raised by stock analysts at Barclays from $50.00 to $65.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Barclays‘s target price points to a potential downside of 17.57% from the stock’s previous close.

NBR has been the subject of a number of other research reports. UBS Group set a $70.00 price target on Nabors Industries in a report on Friday, February 13th. Susquehanna reiterated a “neutral” rating and issued a $70.00 target price (up from $64.00) on shares of Nabors Industries in a report on Friday, February 13th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $77.00 price target (up from $70.00) on shares of Nabors Industries in a report on Friday, February 13th. Piper Sandler reaffirmed an “overweight” rating and set a $80.00 price objective (up from $65.00) on shares of Nabors Industries in a report on Tuesday, February 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and a consensus price target of $69.00.

Nabors Industries Price Performance

NYSE NBR traded up $1.09 on Wednesday, hitting $78.86. 108,494 shares of the company were exchanged, compared to its average volume of 398,664. Nabors Industries has a 1-year low of $23.27 and a 1-year high of $80.32. 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 firm has a 50 day moving average of $63.30 and a two-hundred day moving average of $50.74. The company has a market cap of $1.16 billion, a P/E ratio of 4.78 and a beta of 0.99.

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

Institutional Trading of Nabors Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Nabors Industries by 2.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,634 shares of the oil and gas company’s stock worth $469,000 after purchasing an additional 173 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Nabors Industries by 23.0% in the 3rd 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 buying an additional 289 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Nabors Industries by 24.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 341 shares in the last quarter. Nebula Research & Development LLC grew its position in shares of Nabors Industries by 2.5% in the 2nd quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company’s stock worth $496,000 after buying an additional 428 shares during the last quarter. Finally, Islay Capital Management LLC bought a new position in shares of Nabors Industries during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.