Nabors Industries Ltd. (NYSE:NBR) Given Average Rating of “Hold” by Brokerages

Nabors Industries Ltd. (NYSE:NBR) has received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $86.40.

NBR has been the topic of several research reports. Evercore ISI cut their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research report on Thursday, October 24th. Susquehanna cut their price objective on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Citigroup increased their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays cut their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $46.11 on Wednesday. The business has a fifty day simple moving average of $58.76 and a 200-day simple moving average of $68.76. Nabors Industries has a 52 week low of $44.00 and a 52 week high of $105.96. The company has a market cap of $442.66 million, a P/E ratio of -2.06 and a beta of 2.02. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. Equities research analysts forecast that Nabors Industries will post -3.91 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds and other institutional investors have recently bought and sold shares of NBR. Barclays PLC grew its position in Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after acquiring an additional 42,483 shares in the last quarter. Centiva Capital LP purchased a new stake in Nabors Industries during the 3rd quarter worth $531,000. Entropy Technologies LP acquired a new position in Nabors Industries in the 3rd quarter worth $600,000. Van ECK Associates Corp boosted its position in Nabors Industries by 41.0% in the 4th quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock valued at $11,580,000 after buying an additional 58,946 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Nabors Industries by 6.4% during the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 322 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.