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

Shares of Nabors Industries Ltd. (NYSE:NBR) have received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $79.40.

Several equities research analysts recently weighed in on NBR shares. Citigroup boosted their price target on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays reduced their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th.

Nabors Industries Trading Down 3.6 %

Nabors Industries stock opened at $42.25 on Wednesday. The stock has a market cap of $405.74 million, a P/E ratio of -1.89 and a beta of 2.02. 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 $41.60 and a 1 year high of $105.96. The firm’s 50 day moving average price is $56.70 and its 200-day moving average price is $67.51.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (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%. On average, equities analysts predict that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in Nabors Industries during the fourth quarter worth $36,000. nVerses Capital LLC purchased a new position in Nabors Industries during the third quarter worth $45,000. US Bancorp DE boosted its stake in Nabors Industries by 234.9% during the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after buying an additional 505 shares during the period. R Squared Ltd purchased a new position in Nabors Industries during the fourth quarter worth $70,000. Finally, Signaturefd LLC boosted its stake in Nabors Industries by 52.9% during the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after buying an additional 472 shares during the period. 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.