Susquehanna Lowers Nabors Industries (NYSE:NBR) Price Target to $45.00

Nabors Industries (NYSE:NBR) had its price objective reduced by Susquehanna from $53.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price target indicates a potential upside of 3.56% from the company’s current price.

Separately, Barclays reduced their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and an average price target of $73.00.

Nabors Industries Price Performance

Shares of Nabors Industries stock opened at $43.45 on Thursday. Nabors Industries has a twelve month low of $34.42 and a twelve 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. The company has a 50-day simple moving average of $52.65 and a two-hundred day simple moving average of $63.90. The stock has a market capitalization of $417.30 million, a price-to-earnings ratio of -1.94 and a beta of 2.08.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) 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%. Analysts forecast that Nabors Industries will post -6.22 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in Nabors Industries in the fourth quarter valued at approximately $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Nabors Industries by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,723 shares of the oil and gas company’s stock valued at $1,413,000 after acquiring an additional 3,456 shares during the last quarter. Two Sigma Advisers LP grew its position in Nabors Industries by 169.1% during the fourth quarter. Two Sigma Advisers LP now owns 29,600 shares of the oil and gas company’s stock valued at $1,692,000 after acquiring an additional 18,600 shares during the last quarter. Two Sigma Investments LP grew its position in Nabors Industries by 300.7% during the fourth quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company’s stock valued at $5,185,000 after acquiring an additional 135,877 shares during the last quarter. Finally, Thomist Capital Management LP bought a new position in Nabors Industries during the fourth quarter valued at approximately $1,085,000. 81.92% of the stock is owned by hedge funds and other 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.