Nabors Industries Ltd. (NYSE:NBR) Receives $86.40 Average Target Price from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given a consensus rating of “Hold” by the six research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $79.40.

A number of research analysts have recently issued reports on the stock. Barclays cut their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday. Citigroup lifted their target price 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.

Institutional Trading of Nabors Industries

A number of hedge funds and other institutional investors have recently modified their holdings of NBR. nVerses Capital LLC acquired a new stake in Nabors Industries during the 3rd quarter worth $45,000. Signaturefd LLC grew its holdings in Nabors Industries by 52.9% during the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 472 shares during the period. Entropy Technologies LP acquired a new stake in Nabors Industries during the 3rd quarter worth $600,000. Intech Investment Management LLC grew its holdings in Nabors Industries by 6.4% during the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after acquiring an additional 322 shares during the period. Finally, FMR LLC grew its holdings in Nabors Industries by 10.6% during the 3rd quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock worth $3,339,000 after acquiring an additional 4,949 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Stock Down 6.0 %

Shares of NBR opened at $43.32 on Wednesday. The stock has a market cap of $416.05 million, a price-to-earnings ratio of -1.94 and a beta of 2.02. 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 12 month low of $42.72 and a 12 month high of $105.96. The company has a 50-day moving average price of $57.41 and a two-hundred day moving average price of $68.18.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities analysts predict that Nabors Industries will post -6.22 EPS for the current fiscal 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.