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

Nabors Industries Ltd. (NYSE:NBR) has earned an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $73.00.

NBR has been the topic of a number of research analyst reports. Barclays lowered their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Susquehanna reduced their price objective on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday.

Nabors Industries Trading Up 10.8 %

Shares of NYSE:NBR opened at $43.45 on Friday. The company has a market cap of $417.30 million, a P/E ratio of -1.94 and a beta of 2.08. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. Nabors Industries has a 1 year low of $34.42 and a 1 year high of $105.96. The stock’s fifty day moving average price is $52.65 and its 200-day moving average price is $63.79.

Nabors Industries (NYSE:NBR) last announced its quarterly 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%. Sell-side analysts expect that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Trading of Nabors Industries

A number of hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC increased its position in Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after buying an additional 322 shares in the last quarter. FMR LLC increased its position in Nabors Industries by 10.6% in the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock worth $3,339,000 after buying an additional 4,949 shares in the last quarter. PDT Partners LLC increased its position in Nabors Industries by 49.7% in the third quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock worth $3,008,000 after buying an additional 15,494 shares in the last quarter. Atom Investors LP purchased a new stake in Nabors Industries in the third quarter worth about $332,000. Finally, Centiva Capital LP purchased a new stake in Nabors Industries in the third quarter worth about $531,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About Nabors Industries

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.