Nabors Industries (NYSE:NBR) Given New $110.00 Price Target at Citigroup
by Jessica Moore · The Cerbat GemNabors Industries (NYSE:NBR – Free Report) had its price target upped by Citigroup from $89.00 to $110.00 in a research note issued to investors on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the oil and gas company’s stock.
NBR has been the subject of several other reports. Piper Sandler raised their target price on shares of Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada raised their price target on shares of Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Thursday. UBS Group set a $70.00 price target on shares of Nabors Industries in a research note on Friday, February 13th. Barclays raised their price target on shares of Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $100.00 price target (up from $80.00) on shares of Nabors Industries in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.38.
Read Our Latest Stock Analysis on NBR
Nabors Industries Price Performance
NYSE:NBR traded down $1.63 during mid-day trading on Friday, hitting $100.98. 298,762 shares of the company’s stock traded hands, compared to its average volume of 343,190. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.97. The firm’s 50 day simple moving average is $82.61 and its 200 day simple moving average is $65.05. Nabors Industries has a 1 year low of $23.27 and a 1 year high of $105.17. The company has a market cap of $1.61 billion, a PE ratio of 7.91 and a beta of 1.01.
Nabors Industries (NYSE:NBR – Get Free Report) last posted its earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share for the quarter, beating 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 firm had revenue of $783.55 million during the quarter, compared to the consensus estimate of $769.33 million. During the same period last year, the firm posted $2.18 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts expect that Nabors Industries will post -5.91 EPS for the current year.
Institutional Trading of Nabors Industries
A number of hedge funds and other institutional investors have recently made changes to their positions in NBR. Islay Capital Management LLC bought a new stake in Nabors Industries during the fourth quarter valued at $26,000. Quarry LP acquired a new stake in Nabors Industries in the fourth quarter worth about $33,000. CWM LLC lifted its holdings in Nabors Industries by 244.6% in the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 631 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Nabors Industries in the fourth quarter worth about $40,000. Finally, Public Employees Retirement System of Ohio lifted its holdings 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 worth $63,000 after purchasing an additional 289 shares during the period. Institutional investors own 81.92% of the company’s stock.
Key Stories Impacting Nabors Industries
Here are the key news stories impacting Nabors Industries this week:
- Positive Sentiment: Multiple brokers lifted targets and raised their stance on NBR, signaling analyst optimism that supports upside. Piper Sandler raised its target to $120 and moved to overweight, citing momentum; (Benzinga, TickerReport). Piper Sandler upgrade TickerReport
- Positive Sentiment: Royal Bank of Canada raised its target to $120 (sector perform), another vote of confidence that implies meaningful upside from current levels. RBC price-target raise
- Positive Sentiment: Citigroup boosted its price target to $110 while maintaining a neutral rating — the higher target still supports upside even though the rating is cautious. Citigroup price-target raise
- Positive Sentiment: Q1 results: Nabors reported a narrower‑than‑expected loss and revenues that beat consensus, showing improving operations and demand. That beat is underpinning the analyst upgrades. Zacks Q1 earnings recap
- Positive Sentiment: Company guidance/plan: Nabors expects Q2 capex of $180–$190M, including $75–$80M for newbuilds in Saudi Arabia — a sign of continued investment in growth and backlog conversion. Capex guidance detail
- Neutral Sentiment: The company posted its full Q1 earnings presentation and call materials — useful for drilling into segment performance and backlog but not an immediate catalyst by itself. Earnings presentation
- Neutral Sentiment: Market commentary pieces have highlighted NBR as a momentum pick, which can attract short‑term flows but is opinion‑driven rather than news‑driven. Zacks momentum piece
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.