Nabors Industries (NYSE:NBR) Stock Price Up 7.7% After Better-Than-Expected Earnings

Key Points

• Shares jumped 7.7% to about $100 after quarterly results topped expectations, reporting EPS of ($1.54) versus consensus ($2.25) and revenue of $783.6 million versus $772.4 million expected.
• Analyst views are mixed — several firms raised price targets (Morgan Stanley to $100), but the consensus rating is Hold with an average target of $74.38.
• Key fundamentals: market capitalization of $1.61 billion and a P/E of 6.12, with high institutional ownership (81.92%) but significant leverage (debt-to-equity 2.22).

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) shares traded up 7.7% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $99.93 and last traded at $100.7860. 48,030 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 376,886 shares. The stock had previously closed at $93.62.

The oil and gas company reported ($1.54) EPS for the quarter, beating analysts' consensus estimates of ($2.25) by $0.71. The business had revenue of $783.55 million during the quarter, compared to analysts' expectations of $772.38 million. Nabors Industries had a negative return on equity of 17.63% and a net margin of 8.92%.The business's revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 earnings per share.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler restated an "overweight" rating and set a $84.00 target price (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Citigroup upped their price objective on shares of Nabors Industries from $85.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Barclays raised their price objective on shares of Nabors Industries from $50.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 25th. Wall Street Zen cut shares of Nabors Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price target (up from $80.00) on shares of Nabors Industries in a research report on Wednesday, April 15th. Two research 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. Based on data from MarketBeat, Nabors Industries currently has an average rating of "Hold" and a consensus target price of $74.38.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently modified their holdings of the company. Islay Capital Management LLC acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $26,000. Quarry LP acquired a new position in shares of Nabors Industries during the fourth quarter worth about $33,000. CWM LLC increased its position in shares of Nabors Industries by 244.6% in the 3rd quarter. CWM LLC now owns 889 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 631 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Nabors Industries during the 4th quarter worth $40,000. Finally, Public Employees Retirement System of Ohio grew 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 in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 6.12 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 stock has a 50 day simple moving average of $81.51 and a two-hundred day simple moving average of $64.51.

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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