Nabors Industries (NYSE:NBR) Stock Rating Lowered by Wall Street Zen

Nabors Industries (NYSE:NBR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Monday.

NBR has been the topic of several other research reports. Susquehanna restated a “neutral” rating and set a $56.00 price target on shares of Nabors Industries in a research report on Thursday, October 30th. Morgan Stanley set a $65.00 target price on shares of Nabors Industries in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Nabors Industries in a research note on Monday, December 15th. Citigroup reissued a “neutral” rating and issued a $58.00 price objective (up from $38.00) on shares of Nabors Industries in a report on Monday, November 3rd. Finally, Barclays set a $50.00 price objective on shares of Nabors Industries and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.00.

Nabors Industries Price Performance

NYSE:NBR opened at $52.25 on Monday. The firm’s fifty day moving average is $49.65 and its two-hundred day moving average is $40.54. The firm has a market cap of $760.73 million, a price-to-earnings ratio of 5.41 and a beta of 0.97. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.93 and a current ratio of 2.09. Nabors Industries has a one year low of $23.27 and a one year high of $69.20.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.37) by ($1.30). Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The company had revenue of $825.51 million for the quarter, compared to analysts’ expectations of $824.61 million. During the same quarter in the previous year, the business posted ($6.86) EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Research analysts expect that Nabors Industries will post -6.22 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Nabors Industries by 244.6% during the third quarter. CWM LLC now owns 889 shares of the oil and gas company’s stock worth $36,000 after buying an additional 631 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Nabors Industries by 58.5% during 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 during the period. Russell Investments Group Ltd. grew its position in Nabors Industries by 3,866.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 1,276 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Nabors Industries by 23.0% during 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. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in Nabors Industries by 47.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company’s stock worth $91,000 after purchasing an additional 1,044 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About Nabors Industries

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.