Nabors Industries (NYSE:NBR) PT Lowered to $91.00 at Citigroup

Nabors Industries (NYSE:NBR) had its price objective lowered by Citigroup from $95.00 to $91.00 in a research note published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the oil and gas company’s stock.

Several other equities research analysts also recently issued reports on NBR. Benchmark reaffirmed a hold rating on shares of Nabors Industries in a research report on Thursday, April 25th. Susquehanna lowered their price target on Nabors Industries from $88.00 to $79.00 and set a neutral rating on the stock in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $112.50.

Nabors Industries Trading Up 2.0 %

Nabors Industries stock opened at $74.15 on Wednesday. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.78 and a quick ratio of 1.53. The company has a market capitalization of $793.55 million, a price-to-earnings ratio of -5.37 and a beta of 2.22. Nabors Industries has a one year low of $59.90 and a one year high of $141.47. The company’s fifty day moving average price is $70.89 and its two-hundred day moving average price is $77.89.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) EPS for the quarter, missing the consensus estimate of ($2.24) by ($2.92). The business had revenue of $743.91 million for the quarter, compared to analyst estimates of $730.59 million. Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. On average, analysts forecast that Nabors Industries will post -5.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Several hedge funds have recently made changes to their positions in NBR. Quadrant Capital Group LLC lifted its stake in shares of Nabors Industries by 202.4% in the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 502 shares during the period. Russell Investments Group Ltd. boosted its holdings in Nabors Industries by 2,022.2% during the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 728 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Nabors Industries during the fourth quarter valued at approximately $80,000. GAMMA Investing LLC acquired a new stake in Nabors Industries during the fourth quarter valued at approximately $97,000. Finally, Everence Capital Management Inc. acquired a new stake in Nabors Industries during the fourth quarter valued at approximately $257,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

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.