Nabors Industries (NYSE:NBR) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Nabors Industries shares rose above their 200-day moving average, reaching $91.57 and last trading at $90.55 versus the $87.35 average.
• Analyst sentiment remains cautious: the stock has an overall “Hold” consensus from MarketBeat, with an average price target of $102.57; ratings range from “Neutral” to “Overweight.”
• Nabors reported a quarterly loss of $2.04 per share on $814.79 million in revenue, while an insider sold 3,200 shares and institutional investors collectively own 81.92% of the company.

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $87.35 and traded as high as $91.57. Nabors Industries shares last traded at $90.55, with a volume of 219,282 shares changing hands.

Wall Street Analyst Weigh In

NBR has been the topic of a number of research reports. Zacks Research downgraded Nabors Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Weiss Ratings upgraded Nabors Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Susquehanna dropped their target price on shares of Nabors Industries from $105.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Morgan Stanley set a $110.00 target price on shares of Nabors Industries in a research report on Thursday, August 20th. Finally, Piper Sandler restated an "overweight" rating and issued a $130.00 price target (up from $120.00) on shares of Nabors Industries in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $102.57.

Nabors Industries Stock Performance

The company has a 50 day moving average of $85.56 and a 200 day moving average of $87.35. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 6.74 and a beta of 1.00. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24.

Nabors Industries (NYSE:NBR - Get Free Report) last released its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. The business had revenue of $814.79 million for the quarter. As a group, equities research analysts expect that Nabors Industries Ltd. will post -3.69 EPS for the current fiscal year.

Insider Transactions at Nabors Industries

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $92.30, for a total transaction of $295,360.00. Following the transaction, the director directly owned 5,264 shares in the company, valued at $485,867.20. This represents a 37.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of Nabors Industries by 97.1% during the first quarter. AQR Capital Management LLC now owns 16,770 shares of the oil and gas company's stock worth $699,000 after purchasing an additional 8,260 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Nabors Industries by 11.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company's stock valued at $231,000 after buying an additional 570 shares during the last quarter. Cetera Investment Advisers increased its holdings in Nabors Industries by 19.1% in the second quarter. Cetera Investment Advisers now owns 8,570 shares of the oil and gas company's stock valued at $240,000 after buying an additional 1,374 shares during the last quarter. Rhumbline Advisers increased its holdings in Nabors Industries by 37.0% in the second quarter. Rhumbline Advisers now owns 28,864 shares of the oil and gas company's stock valued at $809,000 after buying an additional 7,799 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Nabors Industries by 3.3% during the second quarter. Invesco Ltd. now owns 55,830 shares of the oil and gas company's stock valued at $1,564,000 after buying an additional 1,764 shares in the last quarter. Institutional investors 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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