Nabors Industries Ltd. (NYSE:NBR) Given Consensus Rating of “Hold” by Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $86.40.

Several research firms have recently commented on NBR. Evercore ISI lowered their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a report on Thursday, October 24th. Citigroup increased their target price on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Susquehanna reduced their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Barclays dropped their price objective on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently bought and sold shares of the stock. Barclays PLC boosted its stake in Nabors Industries by 60.8% during the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after purchasing an additional 42,483 shares in the last quarter. Centiva Capital LP bought a new position in Nabors Industries during the third quarter valued at about $531,000. Entropy Technologies LP acquired a new position in Nabors Industries during the third quarter worth about $600,000. Van ECK Associates Corp raised its position in 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 worth $11,580,000 after acquiring an additional 58,946 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Nabors Industries by 6.4% in the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 322 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Trading Down 2.3 %

NYSE:NBR opened at $46.11 on Wednesday. The company has a market cap of $442.66 million, a PE ratio of -2.06 and a beta of 2.02. The business’s 50 day moving average is $58.76 and its two-hundred day moving average is $68.76. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. Nabors Industries has a 52 week low of $44.00 and a 52 week high of $105.96.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, analysts predict that Nabors Industries will post -3.91 EPS 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.