Weiss Ratings Reiterates Sell (D-) Rating for Nabors Industries (NYSE:NBR)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Nabors Industries (NYSE:NBR) amid ongoing concerns about its financial performance.
• Nabors Industries reported an EPS loss of ($2.71) for the last quarter, which was significantly below analysts' expectation of ($2.05).
• Institutional investors hold a significant portion of the company, with 81.92% of the shares owned by various funds, indicating strong financial backing despite recent stock performance issues.

Nabors Industries (NYSE:NBR - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

NBR has been the topic of several other research reports. Susquehanna raised their price target on shares of Nabors Industries from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 27th. Royal Bank Of Canada raised their price target on shares of Nabors Industries from $45.00 to $47.00 and gave the company a "sector perform" rating in a report on Thursday, August 21st. Piper Sandler restated an "underweight" rating and issued a $32.00 price target (up from $30.00) on shares of Nabors Industries in a report on Thursday, August 14th. Finally, Barclays reiterated an "underweight" rating and issued a $36.00 target price (up from $29.00) on shares of Nabors Industries in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $44.00.

Nabors Industries Price Performance

NBR stock traded down $0.49 during trading on Tuesday, hitting $40.03. 100,248 shares of the company's stock traded hands, compared to its average volume of 466,202. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $86.10. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.63 and a current ratio of 1.79. The business has a fifty day simple moving average of $38.22 and a 200 day simple moving average of $33.30. The stock has a market capitalization of $629.99 million, a price-to-earnings ratio of -2.85 and a beta of 1.46.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The oil and gas company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($2.05) by ($0.66). The business had revenue of $832.79 million for the quarter, compared to the consensus estimate of $857.98 million. Nabors Industries had a negative net margin of 3.51% and a negative return on equity of 35.99%. Nabors Industries's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned ($4.29) EPS. As a group, research analysts expect that Nabors Industries will post -6.22 EPS for the current fiscal year.

Insider Buying and Selling at Nabors Industries

In other news, major shareholder Varde Partners Inc sold 312,378 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $41.04, for a total transaction of $12,819,993.12. Following the transaction, the insider owned 1,406,052 shares of the company's stock, valued at approximately $57,704,374.08. The trade was a 18.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.29% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock valued at $45,000 after acquiring an additional 900 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Nabors Industries by 3,866.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock valued at $55,000 after acquiring an additional 1,276 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Nabors Industries by 58.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 533 shares during the last quarter. State of Wyoming lifted its position in Nabors Industries by 20.5% in the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company's stock valued at $123,000 after buying an additional 500 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in Nabors Industries by 47.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,231 shares of the oil and gas company's stock valued at $91,000 after buying an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

Nabors Industries Company Profile

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.

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