Nabors Industries (NYSE:NBR) Sets New 12-Month High – Here’s What Happened

by · The Markets Daily

Nabors Industries Ltd. (NYSE:NBR – Get Free Report)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $82.30 and last traded at $79.0470, with a volume of 36510 shares traded. The stock had previously closed at $78.12.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NBR. UBS Group set a $70.00 price target on shares of Nabors Industries in a research note on Friday, February 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $77.00 price target (up from $70.00) on shares of Nabors Industries in a research report on Friday, February 13th. Barclays raised their price objective on Nabors Industries from $50.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 25th. Citigroup reissued a “neutral” rating and set a $85.00 target price (up from $60.00) on shares of Nabors Industries in a research report on Tuesday, February 24th. Finally, Susquehanna restated a “neutral” rating and set a $70.00 price target (up from $64.00) on shares of Nabors Industries in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Nabors Industries currently has an average rating of “Hold” and an average target price of $69.00.

Read Our Latest Stock Analysis on NBR

Nabors Industries Stock Down 1.1%

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 firm’s 50 day moving average price is $64.90 and its two-hundred day moving average price is $51.64. The company has a market cap of $1.13 billion, a P/E ratio of 4.69 and a beta of 0.89.

Nabors Industries (NYSE:NBR – Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($2.93) by $3.10. The firm had revenue of $805.13 million for the quarter, compared to analyst estimates of $795.82 million. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($6.67) earnings per share. Equities research analysts anticipate that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Large investors have recently modified their holdings of the company. Islay Capital Management LLC bought a new stake in Nabors Industries during the 4th quarter valued at $26,000. Quarry LP bought a new stake in shares of Nabors Industries during the fourth quarter worth about $33,000. CWM LLC raised its holdings in shares of Nabors Industries by 244.6% in the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Nabors Industries by 58.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 533 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Nabors Industries in the 4th quarter valued at about $40,000. 81.92% of the stock is currently owned by institutional investors.

About Nabors Industries

(Get Free Report)

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.

Featured Stories