Nabors Industries (NYSE:NBR) Sets New 1-Year High - What's Next?

Key Points

• Nabors Industries stock hit a new 52-week high, trading as high as $92.90 and last at $93.06 on Tuesday with roughly 71,976 shares changing hands.
• Analyst coverage is mixed—two Buys, four Holds and two Sells—leaving a MarketBeat consensus of "Hold" and an average target price of $74.38, while individual targets range from $65 to $100.
• The company posted a quarterly earnings beat ($0.17 EPS vs. a ($2.93) consensus loss and $797.5M revenue, up 9% YoY), but carries high leverage (debt/equity 2.22) and analysts still forecast -5.91 EPS for the fiscal year.

Nabors Industries Ltd. (NYSE:NBR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $92.90 and last traded at $93.06, with a volume of 71976 shares trading hands. The stock had previously closed at $90.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NBR. Susquehanna lifted their price target on shares of Nabors Industries from $70.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Nabors Industries in a research note on Monday, December 29th. Morgan Stanley reaffirmed 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. Barclays upped their target price on shares of Nabors Industries from $50.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen downgraded Nabors Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 21st. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Nabors Industries currently has an average rating of "Hold" and a consensus target price of $74.38.

Nabors Industries Trading Up 3.7%

The company has a market capitalization of $1.50 billion, a P/E ratio of 5.70 and a beta of 0.87. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.56 and a quick ratio of 1.47. The business's 50-day moving average price is $81.06 and its two-hundred day moving average price is $64.11.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($2.93) by $3.10. Nabors Industries had a negative return on equity of 17.63% and a net margin of 8.92%.The firm had revenue of $797.53 million for the quarter, compared to analyst estimates of $795.82 million. During the same period in the previous year, the company posted ($6.67) earnings per share. The company's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts forecast that Nabors Industries Ltd. will post -5.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Several large investors have recently made changes to their positions in the stock. Islay Capital Management LLC bought a new stake in Nabors Industries in the 4th quarter valued at $26,000. Quarry LP acquired a new position in Nabors Industries in the 4th quarter worth $33,000. CWM LLC increased its holdings in Nabors Industries by 244.6% during the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 631 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nabors Industries in the 4th quarter valued at about $40,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Nabors Industries by 23.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 289 shares during the period. Institutional investors own 81.92% of the company's stock.

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.

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