Wall Street’s call on Nabors Industries
Analysts’ rating for Nabors Industries
On November 16, approximately 70% of Wall Street analysts tracking Nabors Industries rated it a “buy” or some equivalent. Approximately 30% rated the company a “hold.” None rated it an “underperform” or a “sell.”
In comparison, approximately 59% of sell-side analysts tracking TechnipFMC (FTI) rated it a “buy” or some equivalent. Approximately 29% rated it a “hold.” Approximately 12% rated it a “sell” or equivalent.
Analysts’ rating changes for NBR
From August 16 to November 16, the percentage of analysts recommending a “buy” or some equivalent for NBR rose from 69% to 70%. Analysts’ “hold” recommendations have fallen during the same period. A year ago, ~67% of sell-side analysts recommended a “buy” for NBR. Nabors Industries is 1.8% of the iShares US Oil Equipment & Services ETF (IEZ). IEZ has fallen 21% in the past year versus a 58% fall in NBR’s stock price during the same period.
Analysts’ target prices for NBR and its peers
Wall Street analysts’ mean target price for NBR on November 16 was $8.7. NBR is currently trading at ~$5.7, implying ~53% upside at its current median price. A month ago, analysts’ average target price for NBR was ~$10.2.
The mean target price surveyed among sell-side analysts for Helmerich & Payne (HP) was $50.3 on November 16. HP is currently trading at ~$55, implying ~7% downside at its current price. The mean target price surveyed among sell-side analysts for Baker Hughes, a GE Company (BHGE), was $38. BHGE is currently trading at ~$30.1, implying a ~26% upside at its current price.
Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.