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

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $97.00.

Several research firms recently commented on NBR. Evercore ISI dropped their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a report on Thursday, October 24th. Barclays decreased their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Citigroup upped their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Susquehanna dropped their target price on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th.

Nabors Industries Trading Down 2.9 %

Nabors Industries stock opened at $62.64 on Friday. The stock has a 50-day moving average price of $64.71 and a 200 day moving average price of $72.81. The company has a market capitalization of $670.84 million, a price-to-earnings ratio of -3.41 and a beta of 2.05. Nabors Industries has a 52 week low of $50.15 and a 52 week high of $105.96. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently made changes to their positions in the stock. Barclays PLC lifted 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 in the last quarter. Hsbc Holdings PLC acquired a new stake in Nabors Industries during the 2nd quarter worth approximately $1,242,000. Centiva Capital LP purchased a new position in Nabors Industries in the 3rd quarter valued at approximately $531,000. Dimensional Fund Advisors LP grew its stake in shares of Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after acquiring an additional 16,890 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Nabors Industries during the third quarter worth $600,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.