Nabors Industries (NYSE:NBR) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Nabors Industries (NYSE:NBR – Free Report) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other brokerages also recently weighed in on NBR. Royal Bank Of Canada raised their price target on Nabors Industries from $91.00 to $120.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Morgan Stanley restated an “overweight” rating and set a $100.00 price objective (up from $80.00) on shares of Nabors Industries in a report on Wednesday, April 15th. Susquehanna decreased their price objective 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. Citigroup lifted their target price on shares of Nabors Industries from $89.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Barclays raised shares of Nabors Industries from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $65.00 to $99.00 in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Nabors Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Read Our Latest Analysis on Nabors Industries

Nabors Industries Stock Down 1.8%

Nabors Industries stock opened at $84.17 on Friday. Nabors Industries has a 1-year low of $30.90 and a 1-year high of $112.90. The business has a fifty day moving average price of $87.19 and a 200-day moving average price of $83.48. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.82. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 6.26 and a beta of 0.98.

Nabors Industries (NYSE:NBR – Get Free Report) last announced its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share (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. Equities research analysts forecast that Nabors Industries will post -2.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. lifted 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 valued at $68,418,000 after acquiring an additional 485,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Nabors Industries by 42.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company’s stock valued at $38,545,000 after acquiring an additional 132,747 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Nabors Industries by 232.2% in the third quarter. Two Sigma Investments LP now owns 185,841 shares of the oil and gas company’s stock worth $7,595,000 after acquiring an additional 129,904 shares during the period. Marshall Wace LLP increased its stake in shares of Nabors Industries by 446.9% in the fourth quarter. Marshall Wace LLP now owns 132,715 shares of the oil and gas company’s stock worth $7,206,000 after acquiring an additional 108,447 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Nabors Industries by 846.5% during the third quarter. Millennium Management LLC now owns 112,106 shares of the oil and gas company’s stock worth $4,582,000 after purchasing an additional 100,262 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Company Profile

(Get Free Report)

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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