Barclays Retains an Underweight Rating on Nabors Industries Ltd. (NBR)

Nabors Industries Ltd. (NYSE:NBR) is among the 10 Best Oil & Gas Drilling Stocks to Buy.

On February 25, 2026, Barclays increased its price objective for Nabors Industries Ltd. (NYSE:NBR) to $65 from $50. The analyst retained an Underweight rating, stating that it had upgraded the model following the Q4 release.

On February 11, 2026, Nabors Industries Ltd. (NYSE:NBR) disclosed fourth-quarter 2025 operating revenues of $798 million, a decrease from $818 million in Q3, and net income of $10 million. The fourth-quarter adjusted EBITDA was $222 million. The company lowered its net debt by $554 million since 2024 through collections from the Quail sale, note issuances, and redemptions.

International Drilling's adjusted EBITDA increased to $131.3 million due to higher rig counts, while U.S. Drilling reported $93.2 million. Drilling Solutions' adjusted EBITDA was $41.3 million, while Rig Technologies contributed $4.9 million. Adjusted free cash flow totaled $132 million. Nabors Industries Ltd. (NYSE:NBR) forecasts capital expenditures of $170-180 million and adjusted free cash consumption of $80-90 million in Q1 2026.

Nabors Industries Ltd. (NYSE:NBR) is a provider of offshore platform rigs. It also offers performance tools, directional drilling services, tubular running services, and technology for both its own rig fleet and those managed by third parties.

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