Analysts Set Nabors Industries Ltd. (NYSE:NBR) PT at $56.43

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $56.4286.

NBR has been the subject of a number of research reports. Wall Street Zen upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a report on Monday, December 29th. Susquehanna set a $64.00 price objective on Nabors Industries and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Morgan Stanley set a $65.00 target price on Nabors Industries in a report on Monday, December 15th. Finally, Barclays set a $50.00 target price on Nabors Industries and gave the stock a “neutral” rating in a research report on Wednesday, December 17th.

Hedge Funds Weigh In On Nabors Industries

A number of hedge funds have recently modified their holdings of NBR. Adage Capital Partners GP L.L.C. raised its position in shares of Nabors Industries by 25.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the oil and gas company’s stock valued at $21,015,000 after purchasing an additional 150,000 shares during the period. Apollo Management Holdings L.P. raised its holdings in Nabors Industries by 54.2% during the second quarter. Apollo Management Holdings L.P. now owns 650,623 shares of the oil and gas company’s stock valued at $18,230,000 after acquiring an additional 228,787 shares during the period. Highbridge Capital Management LLC raised its holdings in Nabors Industries by 26.9% during the third quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company’s stock valued at $20,100,000 after acquiring an additional 104,219 shares during the period. Cibc World Market Inc. lifted its position in shares of Nabors Industries by 10.6% in the third quarter. Cibc World Market Inc. now owns 489,507 shares of the oil and gas company’s stock valued at $20,006,000 after acquiring an additional 46,802 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Nabors Industries by 10.3% in the third quarter. American Century Companies Inc. now owns 354,901 shares of the oil and gas company’s stock worth $14,505,000 after acquiring an additional 33,101 shares during the period. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Stock Performance

Shares of NYSE NBR opened at $60.41 on Friday. The firm’s 50-day moving average price is $52.93 and its 200-day moving average price is $42.97. Nabors Industries has a 52-week low of $23.27 and a 52-week high of $69.20. The company has a market cap of $879.63 million, a PE ratio of 6.26 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 2.09 and a debt-to-equity ratio of 2.50.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share for the quarter, missing the consensus estimate of ($2.37) by ($1.30). The company had revenue of $825.51 million for the quarter, compared to analysts’ expectations of $824.61 million. Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($6.86) earnings per share. As a group, analysts anticipate that Nabors Industries will post -6.22 EPS for the current 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.