Nabors Industries Ltd. (NYSE:NBR) Receives $103.43 Average Target Price from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $100.5714.

Several equities analysts have recently weighed in on NBR shares. Piper Sandler lifted their price objective on Nabors Industries from $84.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings cut Nabors Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Morgan Stanley restated an “overweight” rating and set a $100.00 target price (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Citigroup lifted their price target on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Susquehanna reduced their price target on shares of Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday.

Nabors Industries Stock Performance

Shares of Nabors Industries stock opened at $80.58 on Friday. The stock’s fifty day simple moving average is $94.54 and its 200 day simple moving average is $80.19. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $1.19 billion, a PE ratio of 6.31 and a beta of 0.96. Nabors Industries has a 12 month low of $29.50 and a 12 month high of $112.90.

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.49) by $0.95. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.The firm had revenue of $783.55 million during the quarter, compared to analysts’ expectations of $769.33 million. During the same period in the previous year, the firm earned $2.18 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, research analysts predict that Nabors Industries will post -3.12 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Several institutional investors have recently added to or reduced their stakes in NBR. Islay Capital Management LLC acquired a new position in Nabors Industries in the 4th quarter worth $26,000. Quarry LP acquired a new stake in shares of Nabors Industries in the 4th quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Nabors Industries by 29.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Nabors Industries in the fourth quarter valued at about $40,000. Finally, State of Wyoming lifted its holdings in shares of Nabors Industries by 106.3% in the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 677 shares in the last quarter. 81.92% of the stock is owned by institutional investors.

Nabors Industries Company Profile

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.