Nabors Industries (NYSE:NBR – Get Note) was upgraded by TheStreet investment analysts from a “d+” rating to a “c-” rating in a report released Thursday, TheStreetRatingsTable reports.
A number of other analysts have also recently commented on NBR. Morgan Stanley raised its price target on Nabors Industries from $125.00 to $135.00 and gave the stock an “underweight” rating in a Monday, September 26 research note. StockNews.com supported coverage from Nabors Industries in a Wednesday, October 12 research note. They issued a “hold” rating on the stock. One research analyst rated the stock with a sell rating and six issued the company a hold rating. According to MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and a consensus target price of $94.40.
Nabors Industries Stock up 1.8%
Nabors Industries shares opened at $132.00 on Thursday. The company has a debt ratio of 4.33, a quick ratio of 1.53 and a current ratio of 1.76. The company’s 50-day simple moving average is $123.73 and its two-hundred-day simple moving average is $137.70. The company has a market capitalization of $1.39 billion, a PE ratio of -2.12 and a beta of 2.67. Nabors Industries has a fifty-two week low of $72.46 and a fifty-two week high of $207.67.
Nabors Industries (NYSE:NBR – Get Rating) last released its quarterly results on Wednesday, August 3. The oil and gas company reported ($6.99) earnings per share for the quarter, missing the consensus estimate of ($6.43) by ($0.56). Nabors Industries has a negative net margin of 22.20% and a negative return on equity of 56.01%. The company posted revenue of $631.77 million for the quarter, versus $620.01 million expected by analysts. Equity analysts expect Nabors Industries to post -24.39 EPS for the current year.
Hedge funds weigh on Nabors Industries
A number of hedge funds have recently changed their positions in the business. BlackRock Inc. increased its equity stake in Nabors Industries by 4.1% in the first quarter. BlackRock Inc. now owns 1,276,778 shares of the oil and gas company valued at $194,989,000 after acquiring 50,829 additional shares in the last quarter. Vanguard Group Inc. increased its equity stake in Nabors Industries by 7.9% during the first quarter. Vanguard Group Inc. now owns 583,839 shares of the oil and gas company valued at $89,164,000 after acquiring 42,839 additional shares in the last quarter. Van ECK Associates Corp increased its stake in Nabors Industries shares by 2.3% during the first quarter. Van ECK Associates Corp now owns 448,519 shares of the oil and gas company valued at $68,498,000 after acquiring 10,011 additional shares in the last quarter. State Street Corp increased its position in Nabors Industries shares by 9.6% in the second quarter. State Street Corp now owns 413,887 shares of the oil and gas company valued at $55,419,000 after buying an additional 36,097 shares last quarter. Finally, Dimensional Fund Advisors LP increased its position in Nabors Industries shares by 8.8% in the first quarter. Dimensional Fund Advisors LP now owns 289,542 shares of the oil and gas company valued at $44,222,000 after buying an additional 23,422 shares last quarter. Institutional investors and hedge funds own 65.99% of the company’s shares.
About Nabors Industries
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Nabors Industries Ltd. provides drilling and drilling services for onshore and offshore oil and natural gas wells. The Company operates through five segments: US Drilling, Canada Drilling, International Drilling, Drilling Solutions and Rig Technologies. It provides services in tubular operation, wellbore placement, directional drilling, measurement-while-drilling (MWD), drilling equipment and instrumentation manufacturing; and logging-while-drilling systems and services, as well as drilling optimization software.
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