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

Nabors Industries Stock Up 12.7 %

NBR opened at $100.82 on Thursday. The company has a 50 day moving average of $73.06 and a 200 day moving average of $78.05. Nabors Industries has a 12 month low of $59.90 and a 12 month high of $141.47. The company has a quick ratio of 1.53, a current ratio of 1.82 and a debt-to-equity ratio of 5.01.

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

Hedge Funds Weigh In On Nabors Industries

A number of large investors have recently added to or reduced their stakes in NBR. Quadrant Capital Group LLC increased its position in shares of Nabors Industries by 202.4% in 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 period. Russell Investments Group Ltd. increased its position in shares of Nabors Industries by 2,022.2% in 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 period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Nabors Industries in the fourth quarter valued at about $80,000. GAMMA Investing LLC purchased a new position in shares of Nabors Industries in the fourth quarter valued at about $97,000. Finally, SG Americas Securities LLC purchased a new position in shares of Nabors Industries in the second quarter valued at about $159,000. 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.