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

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $97.00.

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

Nabors Industries Trading Down 0.7 %

Shares of NBR opened at $69.89 on Friday. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. Nabors Industries has a 52-week low of $59.67 and a 52-week high of $105.96. The firm has a market cap of $667.31 million, a price-to-earnings ratio of -3.80 and a beta of 2.05. The business’s fifty day moving average is $74.51 and its 200-day moving average is $74.88.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NBR. Barclays PLC increased its stake 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 buying an additional 42,483 shares during the period. Bank of New York Mellon Corp boosted its holdings in Nabors Industries by 42.8% in the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock valued at $8,189,000 after acquiring an additional 34,473 shares during the last quarter. American Century Companies Inc. increased its position in Nabors Industries by 20.2% during the 2nd quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock valued at $14,250,000 after purchasing an additional 33,616 shares during the period. Hsbc Holdings PLC bought a new position in Nabors Industries during the 2nd quarter worth approximately $1,242,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Nabors Industries by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after purchasing an additional 16,890 shares during the period. 81.92% of the stock is owned by institutional investors.

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.