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

Nabors Industries Ltd. (NYSE:NBRGet Free Report) 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.

Read Our Latest Stock Analysis on Nabors Industries

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:NBRGet Free Report) 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

(Get Free Report

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.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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