Research Analysts’ Recent Ratings Updates for Nabors Industries (NBR)

Several analysts have recently updated their ratings and price targets for Nabors Industries (NYSE: NBR):

• 10/31/2024 – Nabors Industries had its price target raised by analysts at Citigroup Inc. from $75.00 to $80.00. They now have a “neutral” rating on the stock.
• 10/24/2024 – Nabors Industries had its price target lowered by analysts at Susquehanna from $79.00 to $77.00. They now have a “neutral” rating on the stock.
• 10/24/2024 – Nabors Industries had its price target lowered by analysts at Evercore ISI from $94.00 to $85.00. They now have an “in-line” rating on the stock.
• 10/16/2024 – Nabors Industries had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $102.00 price target on the stock.
• 10/16/2024 – Nabors Industries had its price target lowered by analysts at Barclays PLC from $110.00 to $88.00. They now have an “equal weight” rating on the stock.
• 9/13/2024 – Nabors Industries was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $75.00 price target on the stock, down previously from $110.00.

Nabors Industries Trading Up 6.7 %

Shares of NYSE NBR traded up $4.79 during midday trading on Monday, reaching $76.80. 36,090 shares of the stock were exchanged, compared to its average volume of 279,530. The company has a market capitalization of $733.44 million, a P/E ratio of -4.18 and a beta of 2.09. Nabors Industries Ltd. has a 52-week low of $59.67 and a 52-week high of $105.96. The company has a current ratio of 1.88, a quick ratio of 1.57 and a debt-to-equity ratio of 5.43. The stock has a 50 day moving average price of $71.93 and a 200-day moving average price of $74.81.

Institutional Investors Weigh In On Nabors Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Nabors Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock worth $70,550,000 after buying an additional 40,078 shares in the last quarter. Gendell Jeffrey L boosted its position in shares of Nabors Industries by 10.1% in the first quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock worth $37,591,000 after acquiring an additional 40,141 shares during the last quarter. Apollo Management Holdings L.P. boosted its position in shares of Nabors Industries by 64.6% in the first quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock worth $28,861,000 after acquiring an additional 131,490 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Nabors Industries by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after purchasing an additional 16,890 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Nabors Industries by 20.2% during the second quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock worth $14,250,000 after purchasing an additional 33,616 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.