Nabors Industries Ltd. (NYSE:NBR) Stock Has Average Price Target of $103.43

Key Points

• Analysts have a consensus “Hold” rating on Nabors Industries, with six holds and two buys. The average 12-month price target is $103.43, above the stock’s reported $80.71 opening price.
• Nabors reported a quarterly loss of $2.04 per share on revenue of $814.79 million, while analysts expect a full-year loss of $3.65 per share. The company had a 7.64% net margin and negative 7.06% return on equity.
• Institutional investors own 81.92% of the stock, with several firms increasing their positions. Director David Tudor sold 3,200 shares at an average price of $92.30, reducing his holdings by 37.81%.

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have earned a consensus recommendation of "Hold" from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $103.43.

A number of equities research analysts have weighed in on NBR shares. Morgan Stanley set a $110.00 price target on shares of Nabors Industries in a research note on Thursday, August 20th. Zacks Research cut shares of Nabors Industries from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Susquehanna reaffirmed a "neutral" rating and set a $91.00 price objective (up from $85.00) on shares of Nabors Industries in a report on Monday, October 5th. Wall Street Zen downgraded shares of Nabors Industries from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Piper Sandler reiterated an "overweight" rating and set a $130.00 target price (up from $120.00) on shares of Nabors Industries in a research report on Thursday, July 30th.

Nabors Industries Stock Performance

NBR opened at $80.71 on Monday. The stock has a market cap of $1.29 billion, a PE ratio of 6.01 and a beta of 1.11. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 2.24. Nabors Industries has a 1 year low of $36.66 and a 1 year high of $112.90. The stock's 50 day simple moving average is $86.93 and its 200-day simple moving average is $88.55.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. The firm had revenue of $814.79 million during the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. Sell-side analysts forecast that Nabors Industries will post -3.65 EPS for the current year.

Insider Transactions at Nabors Industries

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the completion of the transaction, the director owned 5,264 shares in the company, valued at $485,867.20. This trade represents a 37.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nabors Industries

A number of institutional investors have recently added to or reduced their stakes in NBR. Engineers Gate Manager LP lifted its holdings in shares of Nabors Industries by 1,518.1% during the second quarter. Engineers Gate Manager LP now owns 414,599 shares of the oil and gas company's stock valued at $34,830,000 after acquiring an additional 388,976 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Nabors Industries by 42.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company's stock valued at $38,545,000 after purchasing an additional 132,747 shares in the last quarter. Bank of America Corp DE lifted its holdings in Nabors Industries by 191.8% during the 1st quarter. Bank of America Corp DE now owns 151,922 shares of the oil and gas company's stock valued at $13,074,000 after purchasing an additional 99,852 shares during the last quarter. Arlington Capital Management Inc. bought a new position in Nabors Industries during the 2nd quarter valued at about $3,144,000. Finally, Concurrent Investment Advisors LLC bought a new position in Nabors Industries during the 2nd quarter valued at about $2,081,000. 81.92% of the stock is owned by institutional investors and hedge funds.

About Nabors Industries

Nabors Industries Ltd. NYSE: NBR is an international drilling contractor that provides land-based and offshore drilling services to oil and natural gas exploration and production companies. The company operates a fleet of drilling rigs and supplies related equipment, personnel and technical expertise for drilling and well-construction projects.

Its services include contract land drilling, offshore drilling, directional drilling and drilling-related services. Nabors also develops and provides drilling automation, software and other technologies intended to improve operational efficiency, safety and well placement.

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