Nabors Industries (NYSE:NBR) Stock Price Down 6.7% - Here's What Happened

Key Points

• Shares of Nabors fell 6.7% to about $79 on Tuesday, with ~137,992 shares traded — roughly 64% below average daily volume.
• Nabors beat quarterly expectations (EPS $0.17 vs. -$2.93 estimate and revenue slightly above forecasts), but analysts remain mixed and MarketBeat shows a consensus 'Hold' with an average price target of $71.38.
• The stock appears cheaply valued with a PE of 4.83 and $1.17 billion market cap, but carries relatively high leverage (debt-to-equity 2.22), which may weigh on risk perceptions.

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) dropped 6.7% during trading on Tuesday . The company traded as low as $79.78 and last traded at $78.9920. Approximately 137,992 shares changed hands during trading, a decline of 64% from the average daily volume of 381,397 shares. The stock had previously closed at $84.62.

Analyst Upgrades and Downgrades

NBR has been the topic of a number of recent research reports. Piper Sandler restated an "overweight" rating and set a $80.00 price target (up from $65.00) on shares of Nabors Industries in a research note on Tuesday, February 17th. UBS Group set a $70.00 price target on Nabors Industries in a research report on Friday, February 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Nabors Industries in a research note on Monday, December 29th. Wall Street Zen lowered Nabors Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 21st. Finally, Morgan Stanley reissued an "overweight" rating and set a $80.00 price objective on shares of Nabors Industries in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $71.38.

Nabors Industries Stock Performance

The company's 50-day moving average price is $77.96 and its two-hundred day moving average price is $61.19. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.56. The stock has a market cap of $1.17 billion, a PE ratio of 4.83 and a beta of 0.87.

Nabors Industries (NYSE:NBR - Get Free Report) last released its earnings results on Wednesday, February 11th. The oil and gas company reported $0.17 EPS for the quarter, beating the consensus estimate of ($2.93) by $3.10. Nabors Industries had a net margin of 8.92% and a negative return on equity of 17.63%. The company had revenue of $797.53 million for the quarter, compared to analyst estimates of $795.82 million. During the same quarter last year, the firm earned ($6.67) EPS. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its stake 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 worth $469,000 after buying an additional 173 shares during the period. Public Employees Retirement System of Ohio grew its holdings in 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 worth $63,000 after acquiring an additional 289 shares during the last quarter. Quadrant Capital Group LLC grew its holdings 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 worth $95,000 after acquiring an additional 341 shares during the last quarter. Nebula Research & Development LLC grew its holdings 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 worth $496,000 after acquiring an additional 428 shares during the last quarter. Finally, Islay Capital Management LLC bought a new stake in Nabors Industries in the 4th quarter worth $26,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

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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