Nabors Industries Ltd. (NYSE:NBR) Receives $73.00 Consensus Target Price from Analysts

Nabors Industries Ltd. (NYSE:NBR) has received an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $73.00.

Several research firms recently issued reports on NBR. Susquehanna decreased their price target on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Barclays reduced their target price on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th.

Nabors Industries Price Performance

Nabors Industries stock opened at $43.73 on Friday. The business’s 50-day simple moving average is $51.15 and its 200 day simple moving average is $62.93. The stock has a market cap of $419.96 million, a price-to-earnings ratio of -1.96 and a beta of 2.08. Nabors Industries has a 12-month low of $34.42 and a 12-month high of $105.96. 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 (NYSE:NBR) last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. As a group, research analysts anticipate that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

Hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in shares of Nabors Industries by 60.8% during the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after purchasing an additional 42,483 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $664,000. Centiva Capital LP acquired a new stake in shares of Nabors Industries during the third quarter worth about $531,000. Van ECK Associates Corp raised its position in shares of Nabors Industries by 41.0% during 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 purchasing an additional 58,946 shares during the period. Finally, Entropy Technologies LP raised its position in shares of Nabors Industries by 65.5% during the fourth quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company’s stock worth $880,000 after purchasing an additional 6,095 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.