Nabors Industries Ltd. (NBR) – What Are Researchers Saying About This Stock?

by · The Markets Daily

Nabors Industries Ltd. (NYSE:NBR – Get Free Report) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $103.43.

NBR has been the topic of a number of analyst reports. Weiss Ratings raised shares of Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Zacks Research cut shares of Nabors Industries from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Barclays set a $93.00 price target on shares of Nabors Industries and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $110.00 price objective on Nabors Industries in a report on Thursday, August 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $130.00 target price (up from $120.00) on shares of Nabors Industries in a research note on Thursday, July 30th.

View Our Latest Research Report on NBR

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $78.25 on Monday. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24. The firm has a 50-day simple moving average of $86.57 and a 200 day simple moving average of $88.21. Nabors Industries has a fifty-two week low of $39.22 and a fifty-two week high of $112.90. The company has a market cap of $1.25 billion, a PE ratio of 5.82 and a beta of 1.11.

Nabors Industries (NYSE:NBR – Get Free Report) last issued its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. The company 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%. On average, sell-side analysts anticipate that Nabors Industries will post -3.56 EPS for the current year.

Insider Buying and Selling

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the transaction, the director owned 5,264 shares of the company’s stock, valued at approximately $485,867.20. This trade represents a 37.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.32% of the company’s stock.

Hedge Funds Weigh In On Nabors Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ellsworth Advisors LLC acquired a new stake in Nabors Industries during the third quarter valued at approximately $822,000. State of Alaska Department of Revenue acquired a new stake in shares of Nabors Industries during the third quarter worth $41,000. Arlington Capital Management Inc. purchased a new stake in shares of Nabors Industries during the second quarter valued at $3,144,000. Engineers Gate Manager LP lifted its holdings in shares of Nabors Industries by 1,518.1% during the second quarter. Engineers Gate Manager LP now owns 414,599 shares of the oil and gas company’s stock valued at $34,830,000 after purchasing an additional 388,976 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Nabors Industries in the 2nd quarter valued at $106,000. 81.92% of the stock is owned by institutional investors.

About Nabors Industries

(Get Free Report)

Nabors Industries Ltd. (NYSE:NBR) is an international drilling contractor that provides land-based and offshore drilling services to oil and natural gas exploration and production companies. The company operates a fleet of drilling rigs and supplies related equipment, personnel and technical expertise for drilling and well-construction projects.

Its services include contract land drilling, offshore drilling, directional drilling and drilling-related services. Nabors also develops and provides drilling automation, software and other technologies intended to improve operational efficiency, safety and well placement.

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