NBR has been the topic of a number of other research reports. SunTrust Banks, Inc. initiated coverage on Nabors Industries in a research report on Wednesday, January 18th. They set a buy rating and a $20.00 price target on the stock. BMO Capital Markets set a $15.00 price target on Nabors Industries and gave the stock a hold rating in a research report on Thursday, January 12th. Zacks Investment Research downgraded Nabors Industries from a buy rating to a hold rating in a research report on Tuesday, January 24th. Goldman Sachs Group Inc downgraded Nabors Industries from a conviction-buy rating to a buy rating and increased their price target for the stock from $17.50 to $18.00 in a research report on Friday, April 28th. Finally, Credit Suisse Group AG reissued a buy rating and set a $21.00 price target on shares of Nabors Industries in a research report on Thursday, March 30th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Nabors Industries has a consensus rating of Buy and a consensus price target of $16.31.
Shares of Nabors Industries (NYSE:NBR) opened at 10.215 on Wednesday. The stock’s 50 day moving average price is $11.82 and its 200 day moving average price is $14.26. Nabors Industries has a one year low of $7.61 and a one year high of $18.40. The firm’s market cap is $2.92 billion.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.16. The company had revenue of $563 million for the quarter, compared to analyst estimates of $569.96 million. Nabors Industries had a negative return on equity of 8.04% and a negative net margin of 36.84%. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) EPS. On average, equities analysts anticipate that Nabors Industries will post ($1.32) earnings per share for the current fiscal year.
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In other news, CFO William J. Restrepo bought 22,000 shares of Nabors Industries stock in a transaction dated Thursday, May 4th. The stock was bought at an average cost of $9.43 per share, for a total transaction of $207,460.00. Following the purchase, the chief financial officer now directly owns 939,694 shares in the company, valued at approximately $8,861,314.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.53% of the company’s stock.
Several hedge funds have recently modified their holdings of NBR. HighTower Advisors LLC increased its stake in shares of Nabors Industries by 26.4% in the first quarter. HighTower Advisors LLC now owns 14,873 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 3,109 shares in the last quarter. Cambria Investment Management L.P. increased its stake in shares of Nabors Industries by 1.2% in the first quarter. Cambria Investment Management L.P. now owns 140,954 shares of the oil and gas company’s stock valued at $1,842,000 after buying an additional 1,691 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Nabors Industries by 0.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 265,648 shares of the oil and gas company’s stock valued at $3,472,000 after buying an additional 1,051 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Nabors Industries by 582.7% in the first quarter. Jane Street Group LLC now owns 54,085 shares of the oil and gas company’s stock valued at $707,000 after buying an additional 65,290 shares in the last quarter. Finally, Paloma Partners Management Co increased its stake in shares of Nabors Industries by 117.2% in the first quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock valued at $901,000 after buying an additional 37,175 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.
Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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