Nabors Industries (NYSE:NBR) Upgraded by Barclays to Equal Weight Rating

Key Points

• Barclays upgraded Nabors Industries from "underweight" to "equal weight" and set a $99.00 target, implying roughly a 0.53% downside from the prior close.
• Q1 results beat estimates: Nabors reported EPS of ($1.54) vs. consensus ($2.49) and revenue of $783.6M (vs. $769.3M), though analysts still expect a full-year EPS of about -4.6.
• Mixed analyst view and heavy institutional ownership: The consensus is a "Hold" (2 Buy, 5 Hold, 1 Sell) with an average target of $93.63, and institutions own roughly 81.9% of the stock.

Nabors Industries (NYSE:NBR - Get Free Report) was upgraded by stock analysts at Barclays from an "underweight" rating to an "equal weight" rating in a research report issued to clients and investors on Thursday. The firm presently has a $99.00 target price on the oil and gas company's stock. Barclays's price target suggests a potential downside of 0.53% from the stock's previous close.

Several other research analysts also recently issued reports on NBR. Weiss Ratings downgraded Nabors Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday. Royal Bank Of Canada boosted their target price on Nabors Industries from $91.00 to $120.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. Susquehanna reiterated a "neutral" rating and issued a $105.00 price target (up from $85.00) on shares of Nabors Industries in a report on Thursday, April 30th. Piper Sandler lifted their price objective on Nabors Industries from $84.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, UBS Group set a $70.00 target price on shares of Nabors Industries in a research report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nabors Industries currently has an average rating of "Hold" and an average target price of $93.63.

Nabors Industries Trading Down 5.5%

Shares of NBR opened at $99.52 on Thursday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.47 and a current ratio of 1.97. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 7.79 and a beta of 1.01. The stock has a fifty day moving average price of $83.58 and a two-hundred day moving average price of $66.28. Nabors Industries has a 52-week low of $23.27 and a 52-week high of $105.80.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The oil and gas company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($2.49) by $0.95. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.The company had revenue of $783.55 million for the quarter, compared to analysts' expectations of $769.33 million. During the same quarter in the prior year, the business earned $2.18 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. Analysts predict that Nabors Industries will post -4.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Several institutional investors and hedge funds have recently made changes to their positions in NBR. Adage Capital Partners GP L.L.C. raised its stake in Nabors Industries by 62.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,260,000 shares of the oil and gas company's stock worth $68,418,000 after buying an additional 485,000 shares during the period. Vanguard Group Inc. grew its stake in Nabors Industries by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 871,047 shares of the oil and gas company's stock valued at $47,298,000 after acquiring an additional 13,424 shares during the period. Cibc World Market Inc. increased its holdings in shares of Nabors Industries by 2.0% in the fourth quarter. Cibc World Market Inc. now owns 499,147 shares of the oil and gas company's stock worth $27,104,000 after acquiring an additional 9,640 shares in the last quarter. Highbridge Capital Management LLC raised its position in shares of Nabors Industries by 26.9% during the third quarter. Highbridge Capital Management LLC now owns 491,795 shares of the oil and gas company's stock worth $20,100,000 after purchasing an additional 104,219 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Nabors Industries by 15.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 485,346 shares of the oil and gas company's stock valued at $26,354,000 after purchasing an additional 66,640 shares in the last quarter. Institutional investors and hedge funds 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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