Brokerages Set Nabors Industries Ltd. (NYSE:NBR) PT at $97.00

Nabors Industries Ltd. (NYSE:NBR) has earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $97.00.

Several equities research analysts have issued reports on NBR shares. Barclays cut their price objective on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Susquehanna dropped their price target on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Evercore ISI reduced their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday, October 24th. Citigroup increased their price objective on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBR. The Manufacturers Life Insurance Company increased its position in shares of Nabors Industries by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 181 shares during the period. Intech Investment Management LLC grew its stake in 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 worth $346,000 after buying an additional 322 shares in the last quarter. Signaturefd LLC grew its stake in Nabors Industries by 52.9% during the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after buying an additional 472 shares in the last quarter. AQR Capital Management LLC increased its holdings in Nabors Industries by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after buying an additional 601 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in shares of Nabors Industries by 8.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 8,649 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 700 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

NYSE NBR opened at $60.60 on Tuesday. The stock has a market cap of $648.97 million, a PE ratio of -3.30 and a beta of 2.05. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. The firm has a 50-day moving average of $68.71 and a 200-day moving average of $73.23. Nabors Industries has a 52-week low of $50.15 and a 52-week high of $105.96.

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.