Nabors Industries Ltd. (NYSE:NBR) Receives $97.00 Consensus Price Target from Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $97.00.

A number of equities analysts recently commented on the company. Evercore ISI cut their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Citigroup increased their price objective 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. Susquehanna lowered their target price on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Barclays cut their price target on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th.

Hedge Funds Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently made changes to their positions in NBR. nVerses Capital LLC acquired a new stake in Nabors Industries in the 3rd quarter valued at $45,000. Russell Investments Group Ltd. lifted its stake 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 valued at $67,000 after buying an additional 728 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Nabors Industries by 52.9% during the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 472 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Nabors Industries during the second quarter worth about $159,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Down 4.2 %

Shares of NBR opened at $76.27 on Monday. The stock’s 50-day moving average price is $72.57 and its two-hundred day moving average price is $74.97. Nabors Industries has a 12 month low of $59.67 and a 12 month high of $105.96. The company has a market capitalization of $728.38 million, a PE ratio of -4.15 and a beta of 2.09. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43.

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.