Nabors Industries Ltd. (NYSE:NBR) Receives $69.00 Average Target Price from Analysts

Nabors Industries Ltd. (NYSE:NBR) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $69.00.

Several equities analysts have weighed in on NBR shares. Barclays raised their price objective on Nabors Industries from $50.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $77.00 target price (up from $70.00) on shares of Nabors Industries in a report on Friday, February 13th. UBS Group set a $70.00 price objective on shares of Nabors Industries in a research report on Friday, February 13th. Citigroup reiterated a “neutral” rating and issued a $85.00 price objective (up from $60.00) on shares of Nabors Industries in a research note on Tuesday, February 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $80.00 target price on shares of Nabors Industries in a research note on Wednesday, January 21st.

Nabors Industries Price Performance

NBR stock opened at $76.48 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.56. The business has a 50-day simple moving average of $65.89 and a two-hundred day simple moving average of $52.26. The company has a market capitalization of $1.12 billion, a P/E ratio of 4.64 and a beta of 0.89. Nabors Industries has a 52-week low of $23.27 and a 52-week high of $82.30.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Monaco Asset Management SAM bought a new position in Nabors Industries during the second quarter valued at about $210,000. Allianz Asset Management GmbH bought a new stake in Nabors Industries in the third quarter worth about $1,063,000. Highbridge Capital Management LLC boosted its stake in Nabors Industries by 26.9% in 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 last quarter. American Century Companies Inc. grew its position in shares of Nabors Industries by 7.6% during the 2nd quarter. American Century Companies Inc. now owns 321,800 shares of the oil and gas company’s stock valued at $9,017,000 after acquiring an additional 22,594 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Nabors Industries by 59.5% during the 2nd quarter. Geode Capital Management LLC now owns 338,566 shares of the oil and gas company’s stock valued at $9,488,000 after acquiring an additional 126,243 shares during the period. Institutional investors own 81.92% of the company’s stock.

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.