Royal Bank of Canada Reaffirms Sector Perform Rating for Nabors Industries (NYSE:NBR)

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

A number of other equities research analysts have also weighed in on NBR. Benchmark restated a hold rating on shares of Nabors Industries in a research note on Thursday, April 25th. Susquehanna decreased their price target 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. Finally, Citigroup cut their price target on shares of Nabors Industries from $95.00 to $91.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $108.50.

Nabors Industries Price Performance

Shares of NBR stock opened at $101.74 on Thursday. The firm has a fifty day simple moving average of $73.58 and a 200-day simple moving average of $78.22. The company has a market capitalization of $1.09 billion, a PE ratio of -7.37 and a beta of 2.22. Nabors Industries has a twelve month low of $59.90 and a twelve month high of $141.47. The company has a current ratio of 1.82, a quick ratio of 1.53 and a debt-to-equity ratio of 5.01.

Nabors Industries (NYSE:NBR) last issued 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 during 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 business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.26) EPS. Equities research analysts anticipate that Nabors Industries will post -6.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Nabors Industries during the 4th quarter valued at approximately $610,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Nabors Industries during the fourth quarter worth $286,000. Louisiana State Employees Retirement System acquired a new stake in shares of Nabors Industries during the fourth quarter worth $367,000. Strs Ohio lifted its position in shares of Nabors Industries by 68.0% in the 4th quarter. Strs Ohio now owns 4,200 shares of the oil and gas company’s stock worth $342,000 after buying an additional 1,700 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Nabors Industries in the 4th quarter valued at about $257,000. Institutional investors own 81.92% of the company’s stock.

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.