Nabors Industries Ltd. (NYSE:NBR) Given Average Recommendation of “Hold” by Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $119.67.

A number of equities analysts have recently issued reports on the company. Susquehanna dropped their target price on Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Benchmark reissued a “hold” rating on shares of Nabors Industries in a report on Thursday, April 25th.

Hedge Funds Weigh In On Nabors Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Nabors Industries by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after purchasing an additional 40,078 shares in the last quarter. Gendell Jeffrey L boosted its holdings in shares of Nabors Industries by 10.1% in the 1st quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock valued at $37,591,000 after purchasing an additional 40,141 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Nabors Industries by 111.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after purchasing an additional 209,450 shares in the last quarter. Apollo Management Holdings L.P. boosted its holdings in shares of Nabors Industries by 64.6% in the 1st quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock valued at $28,861,000 after purchasing an additional 131,490 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Nabors Industries by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock valued at $24,102,000 after purchasing an additional 13,324 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $69.72 on Tuesday. The business has a 50 day moving average price of $70.82 and a 200 day moving average price of $78.00. Nabors Industries has a twelve month low of $59.90 and a twelve month high of $141.47. The company has a market cap of $746.00 million, a price-to-earnings ratio of -5.05 and a beta of 2.22. The company has a quick ratio of 1.53, a current ratio of 1.78 and a debt-to-equity ratio of 4.81.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The business had revenue of $743.91 million for the quarter, compared to the consensus estimate of $730.59 million. Research analysts predict that Nabors Industries will post -5.85 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.