Nabors Industries (NYSE:NBR) Stock Price Up 8.3% - Still a Buy?

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) traded up 8.3% during mid-day trading on Tuesday . The company traded as high as $49.99 and last traded at $50.4330. 263,593 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 457,717 shares. The stock had previously closed at $46.55.

Wall Street Analyst Weigh In

• Helmerich & Payne Stock, A Lot More Upside Than Meets the Eye

NBR has been the topic of a number of analyst reports. Piper Sandler restated an "underweight" rating and issued a $32.00 price objective (up from $30.00) on shares of Nabors Industries in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Nabors Industries from a "hold" rating to a "buy" rating in a report on Sunday, November 16th. Susquehanna reiterated a "neutral" rating and set a $56.00 target price on shares of Nabors Industries in a report on Thursday, October 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of Nabors Industries in a report on Monday. Finally, Barclays restated an "underweight" rating and issued a $45.00 target price (up from $36.00) on shares of Nabors Industries in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Nabors Industries presently has a consensus rating of "Reduce" and a consensus price target of $48.14.

Get Our Latest Stock Report on NBR

Nabors Industries Stock Up 7.6%

The business's 50 day moving average price is $44.62 and its 200-day moving average price is $36.87. The company has a market cap of $729.58 million, a P/E ratio of 5.19 and a beta of 1.54. The company has a debt-to-equity ratio of 2.50, a current ratio of 2.09 and a quick ratio of 1.63.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported ($3.67) EPS for the quarter, missing analysts' consensus estimates of ($2.37) by ($1.30). Nabors Industries had a negative return on equity of 30.85% and a net margin of 7.08%.The company had revenue of $818.19 million for the quarter, compared to analyst estimates of $824.61 million. During the same period last year, the firm earned ($6.86) earnings per share. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Insider Transactions at Nabors Industries

In related news, major shareholder Varde Partners Inc sold 312,378 shares of Nabors Industries stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $41.04, for a total transaction of $12,819,993.12. Following the sale, the insider directly owned 1,406,052 shares in the company, valued at $57,704,374.08. This trade represents a 18.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Nabors Industries by 244.6% in the third quarter. CWM LLC now owns 889 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 631 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Nabors Industries by 3,866.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 1,276 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Nabors Industries by 58.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company's stock worth $40,000 after buying an additional 533 shares during the period. Public Employees Retirement System of Ohio grew its position in Nabors Industries by 23.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 289 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Nabors Industries by 20.5% during the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company's stock valued at $123,000 after purchasing an additional 500 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

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.

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