Nabors Industries Ltd. (NBR) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is mostly neutral: Six of eight analysts rate Nabors Industries a “Hold,” while two rate it a “Buy”; the average 12-month price target is $104.14.
• Quarterly earnings fell short: Nabors reported adjusted EPS of -$1.24, missing the -$0.14 consensus, although revenue of $872.19 million topped estimates and rose 6.6% year over year.
• The stock opened at $71.56 after a reported 5.8% decline; institutional investors own 81.92% of shares, while a director recently sold 3,200 shares.

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has received an average recommendation of "Hold" from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $104.14.

Several analysts have recently issued reports on NBR shares. Barclays set a $93.00 target price on shares of Nabors Industries and gave the stock an "equal weight" rating in a research note on Wednesday, August 5th. Susquehanna reissued a "neutral" rating and set a $91.00 price target (up from $85.00) on shares of Nabors Industries in a research report on Monday, October 5th. Citigroup dropped their price target on shares of Nabors Industries from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Wednesday. Morgan Stanley set a $110.00 price target on shares of Nabors Industries in a report on Thursday, August 20th. Finally, Zacks Research downgraded shares of Nabors Industries from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th.

Nabors Industries Trading Down 5.8%

NYSE NBR opened at $71.56 on Friday. The business has a 50 day simple moving average of $84.01 and a 200 day simple moving average of $84.48. Nabors Industries has a one year low of $44.04 and a one year high of $112.90. The stock has a market capitalization of $1.14 billion, a P/E ratio of -15.39 and a beta of 1.09. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.75.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its earnings results on Wednesday, October 28th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($1.10). Nabors Industries had a negative net margin of 1.17% and a negative return on equity of 3.98%. The firm had revenue of $872.19 million during the quarter, compared to the consensus estimate of $859.20 million. During the same period in the previous year, the firm earned $16.85 earnings per share. The business's quarterly revenue was up 6.6% on a year-over-year basis. Research analysts expect that Nabors Industries will post -3.87 earnings per share for the current year.

Insider Transactions at Nabors Industries

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the business's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $92.30, for a total value of $295,360.00. Following the sale, the director directly owned 5,264 shares in the company, valued at $485,867.20. The trade was a 37.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.32% of the company's stock.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds have recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC increased its position in shares of Nabors Industries by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 28,678 shares of the oil and gas company's stock valued at $2,240,000 after buying an additional 137 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Nabors Industries by 54.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,138 shares of the oil and gas company's stock worth $490,000 after buying an additional 2,161 shares in the last quarter. Arlington Capital Management INC boosted its position in shares of Nabors Industries by 3.0% in the third quarter. Arlington Capital Management INC now owns 38,557 shares of the oil and gas company's stock valued at $3,012,000 after acquiring an additional 1,128 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nabors Industries in the third quarter valued at approximately $492,000. Finally, Vise Technologies Inc. grew its stake in Nabors Industries by 7.3% during the third quarter. Vise Technologies Inc. now owns 8,996 shares of the oil and gas company's stock valued at $703,000 after acquiring an additional 610 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. is a global provider of drilling and well-construction services to the oil and gas industry. The company operates land-based drilling rigs and offshore drilling units, serving exploration and production companies developing conventional and unconventional oil and natural gas resources.

Its services and products include contract drilling, directional drilling, measurement-while-drilling and logging-while-drilling technologies, wellbore placement, and drilling-related equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.