Nabors Industries (NYSE:NBR) Shares Up 3.8% - Still a Buy?

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) rose 3.8% during mid-day trading on Monday . The stock traded as high as $32.76 and last traded at $32.35. Approximately 123,235 shares changed hands during trading, a decline of 72% from the average daily volume of 445,198 shares. The stock had previously closed at $31.16.

Wall Street Analyst Weigh In

NBR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th. Susquehanna raised their price objective on Nabors Industries from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Citigroup lowered their price objective on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley lowered their price objective on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Royal Bank Of Canada lowered their price objective on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $43.29.

Nabors Industries Trading Up 2.2%

The stock has a 50-day simple moving average of $29.72 and a 200 day simple moving average of $40.55. The company has a market cap of $551.23 million, a price-to-earnings ratio of -2.25 and a beta of 1.52. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 4.13.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing analysts' consensus estimates of ($2.64) by ($4.86). The company had revenue of $742.78 million for the quarter, compared to analysts' expectations of $706.49 million. Nabors Industries had a negative net margin of 3.66% and a negative return on equity of 38.71%. The business's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($4.54) EPS. As a group, equities research analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Institutional investors have recently modified their holdings of the stock. Bryce Point Capital LLC purchased a new position in shares of Nabors Industries during the 4th quarter valued at about $556,000. HighTower Advisors LLC raised its stake in shares of Nabors Industries by 152.8% during the 4th quarter. HighTower Advisors LLC now owns 27,727 shares of the oil and gas company's stock valued at $1,585,000 after buying an additional 16,761 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Nabors Industries by 25,769.9% in the 1st quarter. GAMMA Investing LLC now owns 44,755 shares of the oil and gas company's stock valued at $1,867,000 after purchasing an additional 44,582 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Nabors Industries by 12.0% in the 4th quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock valued at $16,340,000 after purchasing an additional 30,537 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Nabors Industries by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock valued at $16,556,000 after purchasing an additional 27,849 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company's stock.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.