Nabors Industries (NYSE:NBR) Issues Quarterly Earnings Results

Nabors Industries (NYSE:NBR) released its quarterly earnings results on Wednesday. The oil and gas company reported ($5.16) EPS for the quarter, missing the consensus estimate of ($2.24) by ($2.92), reports. The firm had revenue of $743.91 million for the quarter, compared to analyst estimates of $730.59 million. Nabors Industries had a negative return on equity of 23.12% and a negative net margin of 3.45%.

Nabors Industries Stock Performance

NYSE:NBR opened at $75.02 on Friday. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $83.30 and its 200-day simple moving average is $87.53. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Nabors Industries by 29.1% during the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock worth $127,000 after acquiring an additional 332 shares during the period. Quadrature Capital Ltd boosted its position in Nabors Industries by 75.1% during the fourth quarter. Quadrature Capital Ltd now owns 13,564 shares of the oil and gas company’s stock worth $1,108,000 after purchasing an additional 5,818 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Nabors Industries by 111.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after purchasing an additional 209,450 shares in the last quarter. Readystate Asset Management LP boosted its position in Nabors Industries by 44.5% during the fourth quarter. Readystate Asset Management LP now owns 26,499 shares of the oil and gas company’s stock worth $2,163,000 after purchasing an additional 8,164 shares in the last quarter. Finally, Gendell Jeffrey L boosted its position in Nabors Industries by 3.2% during the fourth quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock worth $32,350,000 after purchasing an additional 12,119 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NBR. Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a research report on Thursday. Susquehanna reissued a “neutral” rating and issued a $88.00 target price on shares of Nabors Industries in a report on Monday, April 8th. Finally, Morgan Stanley dropped their target price on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and a consensus target price of $129.60.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.