Susquehanna Maintains Nabors Industries (NBR) Neutral Recommendation

Fintel reports that on October 4, 2023, Susquehanna maintained coverage of Nabors Industries (NYSE:NBR) with a Neutral recommendation.

Analyst Price Forecast Suggests 31.95% Upside

As of August 31, 2023, the average one-year price target for Nabors Industries is 144.05. The forecasts range from a low of 113.12 to a high of $176.40. The average price target represents an increase of 31.95% from its latest reported closing price of 109.17.

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The projected annual revenue for Nabors Industries is 3,342MM, an increase of 11.38%. The projected annual non-GAAP EPS is 14.67.

What is the Fund Sentiment?

There are 486 funds or institutions reporting positions in Nabors Industries. This is a decrease of 13 owner(s) or 2.61% in the last quarter. Average portfolio weight of all funds dedicated to NBR is 0.13%, an increase of 9.11%. Total shares owned by institutions decreased in the last three months by 0.33% to 8,536K shares. The put/call ratio of NBR is 1.45, indicating a bearish outlook.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 639K shares representing 6.69% ownership of the company. In it's prior filing, the firm reported owning 653K shares, representing a decrease of 2.29%. The firm decreased its portfolio allocation in NBR by 27.75% over the last quarter.

Contrarius Investment Management holds 283K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 58K shares, representing an increase of 79.70%. The firm increased its portfolio allocation in NBR by 285.00% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 278K shares representing 2.91% ownership of the company. No change in the last quarter.

Van Eck Associates holds 272K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 265K shares, representing an increase of 2.52%. The firm decreased its portfolio allocation in NBR by 24.82% over the last quarter.

OIH - VanEck Vectors Oil Services ETF holds 270K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 271K shares, representing a decrease of 0.56%. The firm decreased its portfolio allocation in NBR by 15.12% over the last quarter.

Nabors Industries Background Information
(This description is provided by the company.)

Nabors owns and operates one of the world's largest land-based drilling rig fleets and is a provider of offshore rigs in the United Statesand numerous international markets. Nabors also provides directional drilling services, performance tools, and innovative technologies for its own rig fleet and those of third parties. Leveraging its advanced drilling automation capabilities, Nabors highly skilled workforce continues to set new standards for operational excellence and transform its industry.

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This story originally appeared on Fintel.

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