Other analysts have also issued research reports about the stock. Scotiabank reiterated a buy rating and issued a $22.00 target price on shares of Nabors Industries in a research note on Wednesday, March 22nd. Evercore ISI began coverage on shares of Nabors Industries in a research report on Wednesday, February 22nd. They set a buy rating and a $20.00 price target for the company. Zacks Investment Research upgraded shares of Nabors Industries from a hold rating to a buy rating and set a $18.00 price target for the company in a research report on Tuesday, January 31st. SunTrust Banks, Inc. began coverage on shares of Nabors Industries in a research report on Wednesday, January 18th. They set a buy rating and a $20.00 price target for the company. Finally, Credit Suisse Group AG restated a buy rating and set a $21.00 price target on shares of Nabors Industries in a research report on Thursday, March 30th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Nabors Industries currently has a consensus rating of Buy and a consensus target price of $16.31.
Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, April 26th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by $0.16. Nabors Industries had a negative return on equity of 8.04% and a negative net margin of 36.84%. The firm had revenue of $563 million during the quarter, compared to the consensus estimate of $569.96 million. During the same quarter in the previous year, the company earned ($0.29) EPS. The business’s revenue was up 30.7% compared to the same quarter last year.
In other news, CFO William J. Restrepo acquired 22,000 shares of the stock in a transaction on Thursday, May 4th. The stock was acquired at an average price of $9.43 per share, with a total value of $207,460.00. Following the completion of the transaction, the chief financial officer now owns 939,694 shares of the company’s stock, valued at approximately $8,861,314.42. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.53% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NBR. Invictus RG purchased a new position in shares of Nabors Industries during the first quarter valued at approximately $109,000. Coconut Grove Bank raised its position in shares of Nabors Industries by 47.1% in the first quarter. Coconut Grove Bank now owns 10,960 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 3,510 shares in the last quarter. CSS LLC IL purchased a new position in shares of Nabors Industries during the third quarter valued at approximately $146,000. Point72 Asia Hong Kong Ltd raised its position in shares of Nabors Industries by 92.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 5,401 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Nabors Industries by 2.7% in the first quarter. Venturi Wealth Management LLC now owns 12,260 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 320 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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