Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Price Target at $100.57

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $102.00.

A number of research firms recently issued reports on NBR. Wall Street Zen downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup boosted their price objective on Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Susquehanna decreased their price objective on Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Morgan Stanley restated an “overweight” rating and set a $100.00 target price (up from $80.00) on shares of Nabors Industries in a research report on Wednesday, April 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $130.00 target price (up from $120.00) on shares of Nabors Industries in a report on Thursday.

Nabors Industries Stock Performance

Shares of NBR stock opened at $85.28 on Wednesday. The stock’s 50-day moving average is $87.61 and its two-hundred day moving average is $83.32. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.82 and a current ratio of 1.89. Nabors Industries has a 1 year low of $30.90 and a 1 year high of $112.90. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 6.35 and a beta of 0.98.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. The firm had revenue of $814.79 million during the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. Analysts predict that Nabors Industries will post -2.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NBR. Islay Capital Management LLC acquired a new position in Nabors Industries in the fourth quarter valued at $26,000. Quarry LP acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC boosted 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 worth $54,000 after buying an additional 141 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Nabors Industries during the fourth quarter worth about $40,000. Finally, State of Wyoming grew its holdings in shares of Nabors Industries by 106.3% during the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock worth $71,000 after buying an additional 677 shares during 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.