Nabors Industries (NYSE:NBR) Trading 5.2% Higher

Nabors Industries Ltd. (NYSE:NBR)’s stock price shot up 5.2% during trading on Thursday . The stock traded as high as $66.45 and last traded at $66.25. 51,928 shares changed hands during trading, a decline of 77% from the average session volume of 224,926 shares. The stock had previously closed at $63.00.

Analysts Set New Price Targets

Several brokerages recently commented on NBR. Benchmark reiterated a “hold” rating on shares of Nabors Industries in a report on Thursday, April 25th. Susquehanna lowered their price objective on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and an average target price of $119.67.

Nabors Industries Price Performance

The company has a debt-to-equity ratio of 4.81, a current ratio of 1.78 and a quick ratio of 1.53. The firm’s 50-day simple moving average is $72.93 and its 200-day simple moving average is $79.25.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. The business had revenue of $743.91 million during the quarter, compared to analysts’ expectations of $730.59 million. As a group, research analysts expect that Nabors Industries Ltd. will post -5.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Several hedge funds have recently modified their holdings of NBR. Quadrant Capital Group LLC lifted its position in Nabors Industries by 202.4% during the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 502 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Nabors Industries by 2,022.2% during the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 728 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Nabors Industries during the fourth quarter valued at approximately $80,000. GAMMA Investing LLC purchased a new stake in Nabors Industries during the fourth quarter valued at approximately $97,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Nabors Industries during the third quarter valued at approximately $241,000. Hedge funds and other institutional investors 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.