Nabors Industries (NYSE:NBR) Announces Earnings Results

Nabors Industries (NYSE:NBR) released its earnings results on Wednesday. The oil and gas company reported ($5.16) EPS for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92), reports. The firm had revenue of $743.91 million for the quarter, compared to the consensus estimate of $730.59 million. Nabors Industries had a negative return on equity of 23.12% and a negative net margin of 3.45%.

Nabors Industries Price Performance

NBR opened at $75.02 on Friday. Nabors Industries has a 12 month low of $71.42 and a 12 month high of $141.47. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.23 and a current ratio of 1.36. The stock’s 50 day moving average price is $83.30 and its 200 day moving average price is $87.53.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley cut their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Susquehanna reissued a “neutral” rating and issued a $88.00 price target on shares of Nabors Industries in a report on Monday, April 8th. Finally, Benchmark reissued a “hold” rating on shares of Nabors Industries in a report on Thursday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $129.60.

Institutional Trading of Nabors Industries

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after purchasing an additional 209,450 shares during the period. Apollo Management Holdings L.P. acquired a new position in shares of Nabors Industries during the 4th quarter valued at $16,620,000. Gendell Jeffrey L increased its position in shares of Nabors Industries by 75.1% during the 3rd quarter. Gendell Jeffrey L now owns 384,182 shares of the oil and gas company’s stock valued at $47,308,000 after purchasing an additional 164,816 shares during the period. Pantechnicon Advisors LLP acquired a new position in shares of Nabors Industries during the 3rd quarter valued at $15,392,000. Finally, Contrarius Investment Management Ltd increased its position in shares of Nabors Industries by 23.5% during the 4th quarter. Contrarius Investment Management Ltd now owns 140,626 shares of the oil and gas company’s stock valued at $11,479,000 after purchasing an additional 26,730 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.