Nabors Industries (NYSE:NBR) Stock Price Up 5.2%

Nabors Industries Ltd. (NYSE:NBR)’s share price rose 5.2% during trading on Thursday . The company traded as high as $66.45 and last traded at $66.25. Approximately 51,928 shares were traded during trading, a decline of 77% from the average daily volume of 224,926 shares. The stock had previously closed at $63.00.

Analyst Ratings Changes

NBR has been the subject of a number of research analyst reports. Susquehanna lowered their target price on Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Benchmark restated a “hold” rating on shares of Nabors Industries in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and a consensus price target of $119.67.

Nabors Industries Stock Up 0.8 %

The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.53 and a current ratio of 1.78. The company has a market cap of $721.72 million, a price-to-earnings ratio of -4.88 and a beta of 2.27. The business has a 50-day simple moving average of $72.40 and a 200-day simple moving average of $79.02.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The company had revenue of $743.91 million during the quarter, compared to analyst estimates of $730.59 million. Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. On average, equities analysts anticipate that Nabors Industries Ltd. will post -5.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

A number of hedge funds have recently bought and sold shares of NBR. Vanguard Group Inc. raised its position in shares of Nabors Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock worth $70,550,000 after acquiring an additional 40,078 shares in the last quarter. Gendell Jeffrey L raised its position in shares of Nabors Industries by 10.1% during the 1st quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock worth $37,591,000 after acquiring an additional 40,141 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after acquiring an additional 209,450 shares in the last quarter. Apollo Management Holdings L.P. raised its position in shares of Nabors Industries by 64.6% during the 1st quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock worth $28,861,000 after acquiring an additional 131,490 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Nabors Industries by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock worth $24,102,000 after acquiring an additional 13,324 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Company Profile

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.