Barclays Cuts Nabors Industries (NYSE:NBR) Price Target to $53.00

Nabors Industries (NYSE:NBR) had its price target decreased by Barclays from $90.00 to $53.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

NBR has been the topic of several other reports. Susquehanna cut their price objective 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. 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. Finally, Citigroup raised their target price on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.40.

Nabors Industries Trading Down 6.0 %

NYSE NBR opened at $43.32 on Wednesday. Nabors Industries has a one year low of $42.72 and a one year high of $105.96. The company’s 50 day moving average price is $57.41 and its 200 day moving average price is $68.18. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. The firm has a market capitalization of $416.05 million, a price-to-earnings ratio of -1.94 and a beta of 2.02.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) 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%. On average, sell-side analysts predict that Nabors Industries will post -6.22 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in Nabors Industries during the 4th quarter worth approximately $36,000. nVerses Capital LLC acquired a new position in Nabors Industries during the 3rd quarter worth $45,000. US Bancorp DE grew its holdings in Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 505 shares in the last quarter. R Squared Ltd bought a new stake in shares of Nabors Industries in the 4th quarter worth about $70,000. Finally, Signaturefd LLC raised its stake in shares of Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 472 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.