Nabors Industries (NYSE:NBR) Trading 4.7% Higher

Shares of Nabors Industries Ltd. (NYSE:NBR) were up 4.7% during mid-day trading on Monday . The company traded as high as $79.85 and last traded at $79.58. Approximately 43,362 shares changed hands during trading, a decline of 81% from the average daily volume of 233,368 shares. The stock had previously closed at $76.01.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NBR shares. Morgan Stanley dropped their target price on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Susquehanna dropped their target price on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $124.75.

Nabors Industries Stock Performance

The company has a current ratio of 1.78, a quick ratio of 1.53 and a debt-to-equity ratio of 4.81. The firm’s 50-day moving average price is $80.89 and its two-hundred day moving average price is $82.52.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The company had revenue of $743.91 million during the quarter, compared to analysts’ expectations of $730.59 million. As a group, analysts forecast that Nabors Industries Ltd. will post -5.12 earnings per share for the current year.

Institutional Trading of Nabors Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC increased its stake in Nabors Industries by 202.4% during the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock worth $61,000 after buying an additional 502 shares during the period. Russell Investments Group Ltd. boosted its holdings in Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 728 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Nabors Industries during the 4th quarter worth $80,000. GAMMA Investing LLC purchased a new stake in Nabors Industries during the 4th quarter worth about $97,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 635 shares during the period. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

About Nabors Industries

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.