Morgan Stanley Increases Nabors Industries (NBR) Price Target to $9.00

Nabors Industries (NYSE:NBR) had its price target lifted by Morgan Stanley from $8.50 to $9.00 in a research note published on Wednesday morning. Morgan Stanley currently has an equal weight rating on the oil and gas company’s stock.

Several other brokerages also recently commented on NBR. Zacks Investment Research raised shares of Nabors Industries from a sell rating to a hold rating in a research report on Wednesday, January 31st. ValuEngine downgraded shares of Nabors Industries from a sell rating to a strong sell rating in a research report on Friday, February 2nd. JPMorgan Chase downgraded shares of Nabors Industries from an overweight rating to a neutral rating and set a $9.00 price objective for the company. in a research report on Wednesday, January 17th. Stephens initiated coverage on shares of Nabors Industries in a research report on Tuesday, January 9th. They issued an equal weight rating and a $8.00 price target for the company. Finally, Royal Bank of Canada set a $8.00 price target on shares of Nabors Industries and gave the company a buy rating in a research report on Thursday, December 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $10.10.

Shares of NBR stock opened at $7.53 on Wednesday. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $14.28. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.39 and a current ratio of 1.57.



Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $708.28 million for the quarter, compared to analyst estimates of $706.35 million. Nabors Industries had a negative return on equity of 15.56% and a negative net margin of 21.32%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. equities research analysts expect that Nabors Industries will post -0.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 13th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, March 12th. Nabors Industries’s dividend payout ratio is -14.72%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. purchased a new position in Nabors Industries during the 3rd quarter worth $353,000. Wedge Capital Management L L P NC boosted its holdings in Nabors Industries by 21.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,586,131 shares of the oil and gas company’s stock worth $17,663,000 after acquiring an additional 459,518 shares during the last quarter. HRT Financial LLC purchased a new position in Nabors Industries during the 4th quarter worth $216,000. OppenheimerFunds Inc. boosted its holdings in Nabors Industries by 43.8% during the 4th quarter. OppenheimerFunds Inc. now owns 167,296 shares of the oil and gas company’s stock worth $1,143,000 after acquiring an additional 50,991 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Nabors Industries by 1,921.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 100,889 shares of the oil and gas company’s stock worth $814,000 after acquiring an additional 95,897 shares during the last quarter. 87.22% of the stock is currently owned by hedge funds and other institutional investors.

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About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

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