Nabors Industries (NYSE:NBR) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Nabors stock hit a new 52-week high after Citigroup raised its price target from $89 to $110 (Citigroup kept a neutral rating); several other firms also lifted targets (Piper Sandler and RBC to $120), but the consensus remains a Hold with an average target of $89.38.
• The company delivered an earnings beat for the quarter with EPS of ($1.54) versus estimates of ($2.49) and revenue of $783.6M (up 6.4% year‑over‑year), though analysts still forecast negative full‑year EPS (‑5.91).
• Institutional investors own about 81.9% of the shares; Nabors has a market cap of $1.62B, a debt‑to‑equity ratio of 2.22, and its stock is trading well above the 50‑ and 200‑day moving averages ($82.61 and $65.40).

Nabors Industries Ltd. (NYSE:NBR - Get Free Report)'s stock price hit a new 52-week high on Monday after Citigroup raised their price target on the stock from $89.00 to $110.00. Citigroup currently has a neutral rating on the stock. Nabors Industries traded as high as $105.83 and last traded at $100.77, with a volume of 133 shares changing hands. The stock had previously closed at $100.97.

A number of other equities research analysts have also commented on NBR. UBS Group set a $70.00 price objective on shares of Nabors Industries in a report on Friday, February 13th. Wall Street Zen lowered shares of Nabors Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Piper Sandler raised their price target on shares of Nabors Industries from $84.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday. Susquehanna restated a "neutral" rating and issued a $105.00 price objective (up from $85.00) on shares of Nabors Industries in a research report on Thursday. Finally, Royal Bank Of Canada upped their price objective on Nabors Industries from $91.00 to $120.00 and gave the stock a "sector perform" rating in a report on Thursday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $89.38.

Hedge Funds Weigh In On Nabors Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC grew its position in shares of Nabors Industries by 0.7% in the 1st quarter. Kestra Advisory Services LLC now owns 24,937 shares of the oil and gas company's stock valued at $2,146,000 after acquiring an additional 168 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Nabors Industries by 2.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,634 shares of the oil and gas company's stock valued at $469,000 after purchasing an additional 173 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Nabors Industries by 23.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 289 shares during the period. Quadrant Capital Group LLC boosted its stake in Nabors Industries by 24.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company's stock valued at $95,000 after purchasing an additional 341 shares during the period. Finally, Nebula Research & Development LLC boosted its stake in Nabors Industries by 2.5% in the 2nd quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company's stock valued at $496,000 after purchasing an additional 428 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Stock Up 0.3%

The company has a current ratio of 1.97, a quick ratio of 1.47 and a debt-to-equity ratio of 2.22. The stock has a market cap of $1.62 billion, a P/E ratio of 7.93 and a beta of 1.01. The firm has a 50-day simple moving average of $82.61 and a two-hundred day simple moving average of $65.40.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($2.49) by $0.95. Nabors Industries had a net margin of 7.32% and a negative return on equity of 8.66%. The business had revenue of $783.55 million for the quarter, compared to the consensus estimate of $769.33 million. During the same period in the prior year, the company posted $2.18 earnings per share. Nabors Industries's revenue was up 6.4% compared to the same quarter last year. Equities research analysts expect that Nabors Industries Ltd. will post -5.91 earnings per share for the current fiscal year.

About Nabors Industries

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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