Nabors Industries Ltd. (NYSE:NBR) Receives Average Recommendation of “Hold” from Brokerages

Nabors Industries Ltd. (NYSE:NBR) has been given an average rating of “Hold” by the six research firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $108.50.

Several research analysts have recently weighed in on NBR shares. Royal Bank of Canada reissued a “sector perform” rating and set a $114.00 price target on shares of Nabors Industries in a research report on Thursday, July 25th. Citigroup decreased their target price on Nabors Industries from $95.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in shares of Nabors Industries by 202.4% during the 4th 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. increased its position in shares of Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 728 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Nabors Industries during the 4th quarter valued at $80,000. GAMMA Investing LLC boosted its position in Nabors Industries by 29.1% during the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 332 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Nabors Industries in the second quarter worth about $159,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Price Performance

Shares of NYSE NBR opened at $79.67 on Wednesday. The firm has a fifty day moving average of $79.87 and a 200 day moving average of $78.88. Nabors Industries has a one year low of $59.90 and a one year high of $141.47. The firm has a market cap of $852.63 million, a PE ratio of -5.77 and a beta of 2.22. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.53 and a current ratio of 1.82.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The firm had revenue of $742.98 million during the quarter, compared to analysts’ expectations of $737.91 million. Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.26) EPS. As a group, research analysts predict that Nabors Industries will post -7.75 EPS for the current fiscal year.

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.