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

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $73.00.

A number of equities research analysts have weighed in on the stock. Susquehanna cut their price target on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Barclays lowered their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th.

Institutional Investors Weigh In On Nabors Industries

Hedge funds have recently modified their holdings of the business. Barclays PLC boosted its position in shares of 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 during the period. Proficio Capital Partners LLC acquired a new position in Nabors Industries during the fourth quarter worth $664,000. Centiva Capital LP acquired a new position in Nabors Industries during the third quarter worth $531,000. Van ECK Associates Corp increased its stake in shares of Nabors Industries by 41.0% in the fourth 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 in the last quarter. Finally, Entropy Technologies LP increased its stake in shares of Nabors Industries by 65.5% in the fourth quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company’s stock valued at $880,000 after buying an additional 6,095 shares in the last quarter. 81.92% of the stock is owned by institutional investors.

Nabors Industries Stock Performance

Shares of NBR opened at $43.73 on Friday. The company has a market cap of $419.96 million, a price-to-earnings ratio of -1.96 and a beta of 2.08. The firm has a fifty day moving average of $51.15 and a 200-day moving average of $62.93. Nabors Industries has a 1 year low of $34.42 and a 1 year high of $105.96. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. As a group, equities analysts anticipate that Nabors Industries will post -6.22 earnings per share for the current year.

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.