Nabors Industries (NYSE:NBR) Stock Price Up 6.2%

Nabors Industries Ltd. (NYSE:NBR - Get Free Report)'s share price was up 6.2% during mid-day trading on Tuesday . The stock traded as high as $68.32 and last traded at $68.09. Approximately 166,067 shares were traded during trading, a decline of 36% from the average daily volume of 260,332 shares. The stock had previously closed at $64.13.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NBR. Citigroup downgraded shares of Nabors Industries from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $110.00 to $75.00 in a research note on Friday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $114.00 price target on shares of Nabors Industries in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $104.50.

Nabors Industries Stock Up 6.3 %

The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. The stock's fifty day simple moving average is $79.97 and its two-hundred day simple moving average is $77.81. The stock has a market capitalization of $729.34 million, a P/E ratio of -4.93 and a beta of 2.12.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($2.52). The business had revenue of $742.98 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.26) EPS. As a group, research analysts expect that Nabors Industries Ltd. will post -11.98 EPS for the current fiscal year.

Institutional Trading of Nabors Industries

Several institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake in shares of Nabors Industries by 202.4% in the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company's stock valued at $61,000 after purchasing an additional 502 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Nabors Industries by 2,022.2% during 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 last quarter. GAMMA Investing LLC boosted its position in Nabors Industries by 29.1% during the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company's stock valued at $127,000 after acquiring an additional 332 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Nabors Industries during the 2nd quarter worth about $159,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company's stock worth $254,000 after acquiring an additional 181 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

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.

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