Nabors Industries Ltd. (NYSE:NBR) Given Consensus Rating of “Hold” by Brokerages

Nabors Industries Ltd. (NYSE:NBR) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $108.50.

NBR has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $114.00 price objective on shares of Nabors Industries in a research report on Thursday, July 25th. Citigroup reduced their target price on Nabors Industries from $95.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 10th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Creative Planning raised its holdings in shares of Nabors Industries by 62.3% during the second quarter. Creative Planning now owns 8,756 shares of the oil and gas company’s stock valued at $623,000 after acquiring an additional 3,360 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Nabors Industries by 92.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 10,540 shares of the oil and gas company’s stock valued at $750,000 after buying an additional 5,075 shares during the period. The Manufacturers Life Insurance Company increased its stake in Nabors Industries by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 181 shares during the period. AQR Capital Management LLC lifted its holdings in Nabors Industries by 14.5% during the 2nd quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock worth $338,000 after buying an additional 601 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in Nabors Industries by 8.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 8,649 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 700 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Price Performance

Shares of NBR opened at $79.67 on Wednesday. The business’s 50 day moving average price is $79.87 and its two-hundred day moving average price is $78.88. Nabors Industries has a 52-week low of $59.90 and a 52-week high of $141.47. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.53 and a current ratio of 1.82. The firm has a market cap of $852.63 million, a PE ratio of -5.77 and a beta of 2.22.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. During the same quarter last year, the business posted ($2.26) EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that Nabors Industries will post -7.75 EPS for the current year.

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.