Nabors Industries’ (NBR) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Nabors Industries (NYSE:NBR) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $114.00 price target on the oil and gas company’s stock.

A number of other research firms also recently commented on NBR. Susquehanna dropped their price objective on Nabors Industries from $88.00 to $79.00 and set a neutral rating for the company in a report on Friday, April 26th. Benchmark restated a hold rating on shares of Nabors Industries in a report on Thursday, April 25th. Finally, Citigroup lowered their price target on Nabors Industries from $95.00 to $91.00 and set a buy rating for the company in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nabors Industries presently has a consensus rating of Hold and an average price target of $108.50.

Nabors Industries Trading Up 0.9 %

NBR stock opened at $101.74 on Thursday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -7.37 and a beta of 2.22. The company has a quick ratio of 1.53, a current ratio of 1.82 and a debt-to-equity ratio of 5.01. The business has a fifty day simple moving average of $73.58 and a 200-day simple moving average of $78.24. Nabors Industries has a 52 week low of $59.90 and a 52 week high of $141.47.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The firm had revenue of $742.98 million for the quarter, compared to analyst estimates of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.26) earnings per share. On average, equities research analysts expect that Nabors Industries will post -6.47 EPS for the current year.

Institutional Trading of Nabors Industries

Large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings in Nabors Industries by 202.4% in the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 502 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Nabors Industries by 2,022.2% in the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 728 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Nabors Industries in the 4th quarter valued at about $80,000. GAMMA Investing LLC purchased a new position in Nabors Industries in the 4th quarter valued at about $97,000. Finally, SG Americas Securities LLC purchased a new position in Nabors Industries in the 2nd quarter valued at about $159,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.