Why These Energy Stocks are Losing This Week

8. Nabors Industries Ltd. (NYSE:NBR)

Share Price Decline Between May 13 – May. 20: 14.91%

With operations in approximately 20 countries, Nabors Industries Ltd. (NYSE:NBR) is a leading provider of advanced technology for the energy industry.

Nabors Industries Ltd. (NYSE:NBR) suffered a setback this week after Barclays analyst Eddie Kim downgraded the stock from Equal Weight to Underweight and almost halved its price target from $53 to $28. The analyst expects Nabors to witness outsized activity and pricing declines in the lower 48 states and select international markets over the next year, as a result of the tough macroenvironment amid declining crude oil prices and a weak demand outlook. While the SANAD joint venture with Saudi Aramco is viewed as a potential growth area for the company, there are concerns about the venture’s financial sustainability.

That said, Nabors Industries Ltd. (NYSE:NBR) beat forecasts in both earnings and revenue in its Q1 2025 results reported last month. The company also completed the acquisition of Parker Wellbore in March, bolstering its portfolio with complementary businesses.